SBNY - MCJ Capital Partners Q4 And 2023 Year End Update Letter

2024-02-11 10:25:00 ET

Summary

• MCJ Capital Partners is an emerging alternative investment management firm with a small cap bias. We implement a capacity constrained strategy with a bias towards investing in high quality, smaller businesses less accessible to larger capital bases.
• For Q4 of 2023 our total return was 10.58% compared to 11.23% for the broader S&P Index, 10.41% for the MSCI World index, and 13.52% for the Russell 2000 index.
• For 2023, our total return was 11.65% compared to 24.32% for the broader S&P Index, 19.36% for the MSCI World Index, and 15.25% for the Russell 2000 index.
• We head into 2024 with a persistent and significant disconnect between large and small company valuations, and that of the International securities in relation to their S&P 500 counterparts.

Dear Partners & Friends,

For Q4 of 2023 our total return was 10.58% compared to 11.23% for the broader S&P Index, 10.41% for the MSCI World index, and 13.52% for the Russell 2000 index ( RTY ). ¹

For 2023, our total return was 11.65% compared to 24.32% for the broader S&P Index, 19.36% for the MSCI World Index, and 15.25% for the Russell 2000 index....

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