Alluvial Fund commentary for the month of April 30, 2017.
Alluvial Fund, LP is dedicated to identifying and profiting from deeply mis-priced securities in the US and abroad. Alluvial Fund focuses on small firms, thinly-traded issues and special situations, seeking to identify value that the market has yet to notice. The partnership’s goal is to compound its partners’ capital at superior rates over the long term.
Alluvial Fund – Manager’s Commentary
I am pleased to present performance figures for Alluvial Fund’s first months of operations. The year is off to a good start despite a high average cash balance as Alluvial Fund builds positions in attractive securities, including several extremely attractive international securities. Nearly without exception, portfolio companies have reported strong first quarter financial results, resulting in greater investor attention and resulting appreciation.
Alluvial Fund, LP is a new partnership managed by Alluvial Capital Management, LLC. Since 2014, Alluvial has provided investing strategies with a focus on microcaps, thinly-traded issues, and special situations using a traditional value investing framework.
Alluvial Capital Management, LLC’s president is David Waters, CFA. Since 2012, Mr. Waters has published his independent research on obscure and underfollowed securities at OTCAdventures.com. Mr. Waters’ work history includes stints at BNY Mellon and Wilmington Trust.