Dan Roller's Maran Capital return to 0.9% net of fees and expenses, according to a copy of its second-quarter update, which Hedge Fund Alpha has been able to review. For the year to the end of June, the fund has returned 6.1% net.
Over the past five years, Maran has produced an impressive 12% annualized return for its investors compared to 4% for the Russell 2000 index.
Roller has outperformed the market by focusing on undervalued small caps and special situations. The firm's approach is to "focus on a concentrated portfolio of companies we have researched deeply, which are typically smaller, off the beaten path, and generally less expensive than the market as a whole."
Q2 2023 hedge fund letters,...
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