ATROB - Middle Coast Investing Q2 2024 Investor Letter: Practicing Flexible Discipline

2024-07-08 14:54:22 ET

Summary

• Q2 saw the continuation of a trend, with large-cap tech leading the way in the market.
• Middle Coast Investing had a good quarter even as our performance was mixed, mostly keeping up via our large-cap tech positions.
• We discuss our focus on flexible discipline as a way to get through different market environments.
• We also cover our newest positions, including Lululemon, J.M. Smucker, and more.

The second quarter of 2024 was a good one for Middle Coast Investing. Our short-term performance was mixed, but I think we made good decisions that will bear fruit in the years ahead. We had a very active quarter. We bought a few new stocks, added several more to our watchlist, and closed two positions. This sort of market environment – where a select few stocks are responsible for a good deal of index-level performance – is tricky for a portfolio like ours. But our aim is not to “win” every quarter, it’s to find stocks we think are likely to go up over the next couple years....

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