2024-04-24 03:00:00 ET
Summary
- Ace River Capital Partners, L.P. returned -10.40% in Q4 2023, while the S&P 500 and Russel 2000 Indexes returned 10.8% and 5.2% respectively.
- The fund's top position is RCI Hospitality (RICK), which owns adult nightclubs in the US. The CEO is working on cost reduction efforts and potential acquisitions.
- The fund has added to its position in Vox Royalty (VOXR), a mining royalty company, due to its undervaluation and potential for increased revenue from rising gold.
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Ace River Capital Q1 2024 Quarterly Letter