Alluvial Fund, LP was up modestly in the first quarter, returning 2.7%. The S&P 500 was down slightly, while the Russell 2000 treaded water. The small change in each market index’s ending value belies the volatility that markets experienced this quarter. I am pleased to say that even during the worst of the correction, Alluvial Fund’s holdings held up very well. At the lowest point, Alluvial Fund had declined roughly 2.5% from its year-end value, compared to nearly 10% for large cap and small cap indexes. This may not always be the case, but recently our focus on obscure and ignored securities and special situations has served us well.
The full letter is available for subscribers below:
This content is exclusively for paying members. Access all of our top quality content by signing up below.
If you are subscribed and are having an account error, please clear cache and then cookies if that does not work email firstname.lastname@example.org and we will get back to you as quick as humanly possible.