ETRN - Legacy Ridge Capital Partners Equity Fund I 2023 Annual Letter
2024-01-31 11:05:00 ET
Summary
- Legacy Ridge Capital Management are contrarian investment managers who believe successful results can be achieved through a focused, long-term investing.
- Legacy Ridge Capital's partnership returned 36.5% gross and 28.4% net of performance fees in 2023.
- Despite the significant gain in VST’s share price last year, we continue to believe that the current equity value trades at a large discount to intrinsic value.
- And in contrast to Germany, the US is currently experiencing something akin to a nuclear energy revival.
| 2023 Annual Letter |
| To December 31 st 2023 : |
| LRCP Equity Fund I Gross |
| LRCP Equity Fund I Net |
| S&P 500 |
| Russell 2000 |
| MSCI World Index |
| Trailing 1-yr Total Return: |
| 36.5% |
| 28.4% |
| 26.2% |
| 16.9% |
| 23.8% |
| Trailing 2-yr Total Return: |
| 53.6% |
| 41.8% |
| 3.4% |
| -7.1% |
| 1.8% |
| Trailing 3-yr Total Return: |
| 117.7% |
| 87.7% |
| 33.0% |
| 6.7% |
| 24.6% |
| Trailing 4-yr Total Return: |
| 140.8% |
| 104.5% |
| 57.4% |
| 28.1% |
| 45.1% |
| Trailing 5-yr Total Return: |
| 146.9% |
| 109.7% |
| 107.1% |
| 60.6% |
| 85.8% |
| Trailing 6-yr Total Return: |
| 137.4% |
| 101.7% |
| 98.0% |
| 41.1% |
| 72.9% |
The figures above are on a cumulative basis and are unaudited. Future results will also be presented on a cumulative basis in this section. Annual results will be illustrated below for those who wish to measure us based on 12-month cycles. However, we view the cumulative results as most meaningful since we are trying to build wealth far into the future and the annual results are only important in as much as they contribute to a 3, 5, 10, and 20-year track record....
Legacy Ridge Capital Partners Equity Fund I 2023 Annual Letter