Sahm Adrangi is the Founder and Chief Investment Officer of Kerrisdale Capital Management. He has been involved in all aspects of the firm’s development since its founding in 2009. Mr. Adrangi launched the company with under $1 million and the firm manages approximately $250 million as of March 1, 2026.
Best known for short selling and publishing research, Mr. Adrangi shares his firm’s views on stocks, such as under-followed longs and overhyped shorts, that are misunderstood by the market. Kerrisdale’s research seeks to correct broadly held misconceptions about these companies’ fundamental business prospects. Kerrisdale shares its research on its website, third-party investing-related sites, and on Twitter.
Mr. Adrangi first made a name for himself shorting and exposing fraudulent Chinese companies, including China Marine Food Group, China-Biotics, Lihua International and many others in 2010 and 2011. Several of Mr. Adrangi’s targets, such as China Education Alliance and ChinaCast Education Corp, became subject to enforcement actions from the Securities and Exchange Commission.
In late 2014, Mr. Adrangi gave a live presentation on Globalstar, available here, where he explained how Globalstar’s proposed Terrestrial Low Power Service (TLPS) concept was nonsensical. The presentation was followed by a series of articles, ex parte letters filed with the FCC, and a meeting with the FCC.
Over Kerrisdale’s history, Mr. Adrangi has challenged stock promoters and promotional management teams. In 2021, Kerrisdale wrote on Camber Energy and Meta Materials, both of which were subjects of stock promotion campaigns by Atlas Trading, a stock-trading network charged by the SEC with stock manipulation. More recently, Kerrisdale has shared its research on digital asset treasury companies (BMNR, MSTR), quantum computing (QBTS, IONQ), flying taxis (JOBY), and small modular reactors (OKLO), industries where hype has detached companies’ valuations from their business fundamentals.
Kerrisdale also shares research on its long investments. In 2025, Kerrisdale wrote several reports on companies benefiting from the growth in artificial intelligence, particularly technology companies that provide important tools and hardware enabling the global infrastructure buildout necessary to enable AI advances. These companies included ACM Research, Seagate and Aixtron.
In addition to publishing research, Mr. Adrangi has taken an activist role in several investments. In 2013, he engaged with Lindsay Corporation management to optimize the company’s cash deployment and capital allocation policies. The following year, Mr. Adrangi led a proxy contest to replace the directors of Morgans Hotel Group with two directors from his slate.
Mr. Adrangi started his financial career in credit – performing high-yield and leveraged loan debt financings at Deutsche Bank, as well as advising creditor committees in bankruptcy and out-of-court restructuring situations at Chanin Capital Partners. Subsequent to his investment banking experience, Mr. Adrangi spent several years at Longacre Management, a distressed debt hedge fund which had $2 billion of assets under management. He holds a Bachelor of Arts in Economics from Yale University.
Sahm Adrangi has been a speaker at numerous conferences, including the Sohn Conference, the Value Investing Conference, the Distressed Debt Investing Conference, the Activist Investor Conference, and Traders 4 a Cause. He has appeared in interviews on CNBC and Bloomberg and has been featured in major publications, including the Wall Street Journal, the New York Times, the Washington Post, BusinessWeek and many other publications.
