- The Palm Valley Capital Fund invests in small cap stocks. While our Fund is new, its underlying absolute return-based investment strategy is not. We have practiced the same strategy throughout our careers in investment management.
- For the fourth quarter ending December 31, 2020, we got smoked, relatively speaking. The Fund rose 5.78% while the S&P Small Cap and Morningstar Small Cap benchmarks surged 31.27% and 29.29%, respectively. Our equities underperformed small cap benchmarks for the quarter, rising 22.14%.
- The Palm Valley Capital Fund had a successful year in 2020. The Fund increased 19.12%, compared to a 11.24% gain for the S&P Small Cap 600 and a 16.41% increase for the Morningstar Small Cap Index.
- We sold seven existing positions during the fourth quarter: Benchmark Electronics, Capitol Federal Financial, Carters, Kelly Services, Pason Systems, Skechers USA, and SP Plus.
For further details see:
Palm Valley Capital Fund Q4 2020 Commentary