Rowan Street Capital letter to investors for the third quarter ended September 30, 2023.
Dear Partners,
The fund’s third quarter 2023 performance was -6.1% compared with S&P 500 Total Return of -3.3%. Year-to-date in 2023, Rowan Street gained +67.6% compared with S&P 500 Total Return at +13.1%. Performance for the trailing 12-month period ending in September 30, 2023 was +60.9% compared with S&P 500 Total Return at +21.6%.
Q3 2023 hedge fund letters, conferences and more
Year-to-date in 2023, our top 5 positions (sorted below by size of the position) all contributed positively to the fund’s outperformance, with our top two outperforming strongly (Meta +149%, Spotify +96%):
Here it is. The great bear steepening. This is a significant bond...
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