TLN - LVS Advisory Q2 2024 Letter
2024-07-25 05:45:00 ET
Summary
- During the first half of 2024, the LVS Event-Driven Portfolio was flat and the LVS Growth Portfolio gained 18.2%, net of all fees and expenses.
- After a difficult Q1, the Event-Driven Portfolio regained some ground in Q2 - the opportunity set for merger arbitrage is improving.
- Our differentiation not only produces solid returns but also provides diversification from passive asset allocations.
| Investment Results |
| 2019 |
| 2020 |
| 2021 |
| 2022 |
| 2023 |
| YTD 2024 |
| Since Inception 1 |
| LVS Event-Driven (net of fees) |
| 7.0% |
| 13.2% |
| 9.1% |
| 3.8% |
| 6.2% |
| 0.0% |
| 45.6% |
| Benchmark: High-Yield Bond Index |
| 13.4% |
| 5.0% |
| 4.0% |
| (11.4%) |
| 12.5% |
| 2.3% |
| 26.3% |
| LVS Growth (net of fees) |
| - |
| 61.8% |
| 16.1% |
| (35.8%) |
| 7.0% |
| 18.2% |
| 52.5% |
| Benchmark: S&P 500 TR Index |
| - |
| 18.4% |
| 28.7% |
| (18.1%) |
| 26.3% |
| 15.3% |
| 81.7% |