The Courtenay Special Situations Fund from Green Ash Partners gained exactly 8% in February, according to a recent investor letter. The portfolio saw its momentum accelerate in February, bringing year-to-date returns to 12%.
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Since the vehicle’s 2019 inception, Adrian Courtenay has overseen its growth, with assets currently totaling US$32 million.
Primary contributors to portfolio performance were holdings in ImmunityBio and NovaGold, contributing gains of 429 and 125 basis points, respectively. Other noted outperformers were GE Aerospace and Safran with 53 and 51 basis points.
Courtenay visited the site of the new Filtronic factory, which is soon to be operational. Filtronic is a microwave manufacturer, which takes 8% of the firm’s portfolio.
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