Founded in 2002, Copia is a Chicago-area hedge fund that specializes in investing in publically traded companies that operate across the extended energy value chain (producing and consuming sectors). Copia seeks to deliver attractive, long-term, risk adjusted returns that are non-correlated to other asset classes and other long short equity managers in the same space. Copia’s investment approach is unique because it balances the qualitative opportunities that are apparent to an industry expert with top down idea sourcing rooted in quantitative and thematic premises. Copia’s strategy is unique because it decouples alpha premises from effective risk management. This results in a more efficient research and portfolio management process, lower portfolio turnover, friction, and costs. It also enables Copia to be on the offensive, while other hedge funds become increasingly more constrained. Long-term focused, alpha-oriented stock selection in a best idea long, short equity portfolio, combined with intelligent hedging of price and systematic risks.