Fund With 15.5% Annualized Returns Profits With Mid-Cap Value

Mitchell Scott's Choice Equities generated a positive return of 8% net for the second quarter of 2023, bringing its year-to-date return to 9% net, according to a copy of the firm's second-quarter investor update, which Hedge Fund Alpha has been able to review.

While the fund is lagging behind the S&P 500 for the year, it's outperforming the Russell 2000, a better benchmark for the small and mid-cap focused fund. The Russell 2000 has added 8.1% in 2023.

Q2 2023 hedge fund letters, conferences and more

Big Tech Dominates

As Scott notes in his quarterly update to investors, "AI-related enthusiasm for large-cap tech holdings" dominated the market backdrop during the three months to the end of June. Just a handful of...