Longriver Partners Fund returned 5.8% for the third quarter, boosting its year-to-date gain to 17.8%. The firm’s benchmark, the MSCI AC World USD Net Index, was up 7.6% for Q3 and has gained 18.4% year to date. Since its inception, Longriver is up 64.6%, versus the benchmark’s 70% gain.
About Longriver Partners
The fund is a global, long-only” equity fund filled with the best ideas that are aimed at compounding. The founder takes an “Asia-informed lens” on supply chains, governance and capital allocation worldwide. Longriver usually consists of 10 to 20 holdings, keeping risk spread across industry, geography and duration. The fund makes all purchases with a margin of safety.
In his Q3 letter to investors, Graham Rhodes of Longriver Partners emphasized that his strategy is to “ride the long-term value” created by the companies he invests in. Thus, he advised investors to see their investment in his fund as holdings in real estate or a private company, both assets that wouldn’t put out volatile quarterly valuations.
During the third quarter, Rhodes spoke with many prospective investors who helped “sharpen” his case for Longriver through the questions they asked. Now closing out his third year, he said he’s “clearer than ever” about what the fund is, what it isn’t, and how he can add value to client portfolios.
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