Alluvial Fund commentary for the month ended July 31, 2025.
Dear Partners and Colleagues,
Alluvial Fund, LP returned 5.0% in July, compared to 1.7% for the Russell 2000 and 1.3% for the MSCI World Small+MicroCap. Year-to-date, Alluvial Fund, LP has returned 21.4%, compared to -0.1% for the Russell 2000 and 9.2% for the MSCI World Small+MicroCap. Since inception, Alluvial Fund, LP has returned 225.1% compared to 82.5% for the Russell 2000 and 96.7% for the MSCI World Small+MicroCap.
Alluvial Fund, LP is a value investing partnership with a focus on small companies and obscure securities, both domestic and international. The full July tearsheet may be accessed using the this link.
Please contact Alluvial Capital Management, LLC at (412) 368-2321 or [email protected] with any questions.
Earlier this year Alluvial Capital Management launched Tactile Fund. Tactile invests in companies with extraordinary physical assets, which we believe can offer a hedge against persistent inflation, de-dollarization, and the effects of rapid technological changes. We recently published our second quarter letter to partners for Tactile Fund, and still have openings for new investors to join the partnership on preferential terms. If you would like more information or to join the distribution list for Tactile Fund, please contact us at [email protected].
Regards,
Dave Waters, CFA
Alluvial Capital Management, LLC
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