Alluvial Capital Management commentary for the second quarter ended June 30, 2024.
Dear Partners,
Alluvial Fund had a good quarter, rising 3.9% and bringing our year-to-date gains to 10.4%. Meanwhile, comparable benchmarks sputtered. The Russell Micro-Cap Index declined 5.3%, falling into negative territory for 2024, while the Russell 2000 Index fell 3.3%, dragging down year-to date returns to just 1.7%
A lot of ink has been spilled discussing the lamentable performance of small-cap stocks versus their large-cap and mega-cap peers in recent years. Even after this month’s rally in small-cap stocks, small-caps as an asset...
