ENVX - Long Cast Advisers Q1 2024 Letter

2024-04-19 06:30:00 ET

Summary

• Long Cast Advisers, LLC, is an independent-registered investment adviser investing on behalf of individuals, family offices and endowments. It is concentrated on long-term investing, focused on small-cap companies.
• For Q1 2024 (ended March 31, 2024), cumulative net returns improved 9%.
• MTRX, PESI and QRHC were the biggest contributors to returns in the quarter.

Dear Partners & Friends:

For the 1Q24 quarter (ended March 31, 2024), cumulative net returns improved 9%. Since inception in November 2015 through quarter end 1Q24, LCA returned a cumulative 188% net of fees, or 13% CAGR. As a backdrop to returns, on a cumulative net basis, since inception, we comfortably exceed two widely used representative indices for passive small company investing, the iShares MicroCap ETF and Russell 2000 Index ( RTY ), and are roughly in line with the S&P. Past performance is no guarantee of future results. Individual account returns may vary ....

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