QRTEA - White Brook Capital Q3 2021 Commentary

• White Brook Capital LLC is an independent investment advisory firm. The Firm was founded with the belief that there is a shortage of managers who charge a reasonable price, invest for the long term, and maintain a socially responsible threshold while also beating the market.
• At quarter end, the Fund was 97.08% invested across 10 positions. For the 3rd quarter 2021, the Fund’s NAV decreased by 5.86% vs a decline of 1.76% in the S&P MidCap 400 and an increase of 0.58% for the S&P500, net of all realized and accrued fees.
• During the second quarter, Mosaic Co and Post Holdings were the best performers, while B Riley Financial and Interactive Corp were the most significant detractors from performance.
• Shares of Host Hotels were also sold and Qurate Retail was bought during the 3rd quarter.

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