ESAB - Alphyn Capital Management Q1 2024 Letter To Investors
2024-04-12 12:15:00 ET
Summary
- Alphyn Capital Management LLC (“ACML”) is a registered investment advisor in New York. We help clients invest in high quality public companies to both preserve and grow their wealth over the long term.
- The Master Account, in which I am personally invested alongside SMA clients, returned 7.1% net in Q1 2024 vs 10.6% for the S&P500.
- The market has been on a tear and considering it’s an election year in the US, the government’s continued liquidity injections wouldn’t be entirely surprising.
- The crucial lesson I have learned with time is to avoid the lure of unnecessary complexity that often leads to unproductive outcomes.
Performance
As reported by our fund administrator, the Master Account, in which I am personally invested alongside SMA clients, returned 7.1% net in Q1 2024 vs 10.6% for the S&P500. As of March 31, 2024, the top ten positions comprised approximately 66% of the portfolio, and the portfolio held approximately 8.2% in cash.
| QTD |
| YTD |
| 1-year |
| 3-years |
| 5-years |
| Inception |
| ACML |
| 7.1% |
| 7.1% |
| 16.4% |
| 1.6% |
| 4.0% |
| 6.7% |
| S&P500 TR |
| 10.6% |
| 10.6% |
| 29.9% |
| 9.8% |
| 15.1% |
| 17.1% |
| ACML performance is net of fees and standard costs. |
Operational update
It has been five years since the inception of Alphyn Capital Management, which I embarked on in January 2019 with my capital before officially registering as an investment advisor in April of that same year. As a registered investment advisor, I focus on two strategies for clients....
Alphyn Capital Management Q1 2024 Letter To Investors