Alluvial Fund November 2018 Tearsheet

Alluvial Fund, LP was down 4.0% in November. Year-to-date, Alluvial has returned -5.1% versus 5.1% for the S&P 500 and 1.0% for the Russell 2000. Since inception, Alluvial Fund, LP has returned 23.0% compared to 28.1% for the S&P 500 and 15.8% for the Russell 2000.

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Alluvial Fund, LP is a value investing partnership with a focus on small companies and obscure securities, both domestic and international. The full November tearsheet can be found below.

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Alluvial Fund November 2018 Tearsheet 2

Alluvial Fund November 2018 Tearsheet 2

Partnership Profile

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.

Manager’s Commentary

A poor report from School Specialty and fears of a declining metallurgical coal prices hurt Alluvial Fund’s performance. Broadly positive earnings results from the portfolio’s largest holdings were insufficient to stem the decline.

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Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver