SENEB - Alluvial Capital Management Q2 2024 Letter To Partners

2024-07-25 08:00:00 ET

Summary

• Alluvial Fund follows the same successful investment strategies used by Alluvial in managing separate accounts, focusing on value opportunities in small companies and thinly-traded issues, both domestically and internationally.
• Alluvial Fund had a good quarter, rising 3.9% and bringing our year-to-date gains to 10.4%.
• Even after this month’s rally in small-cap stocks, small-caps as an asset class have delivered total returns nearly 50% behind those of the S&P 500 over the last 5 years.

Dear Partners,

Alluvial Fund had a good quarter, rising 3.9% and bringing our year-to-date gains to 10.4%. Meanwhile, comparable benchmarks sputtered. The Russell Micro-Cap Index declined 5.3%, falling into negative territory for 2024, while the Russell 2000 Index fell 3.3%, dragging down year-to-date returns to just 1.7%....

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