Lowell Capital Value Partners Letter: Long This Tech Small Cap with A Super-Strong Balance Sheet

Lowell Capital Value Partners commentary for the month ended December 31, 2023.

Dear Partners,

Lowell Capital Value Partners, L.P. (the “Partnership”) was +2.2% in November 2023 vs. +9.1% for the S&P 500 with dividends reinvested (all returns shown are net to investors). For 2023 year-to-date, the Partnership was +18.8% vs. +20.8% for the S&P 500 with dividends reinvested. As of November 30, 2023, the Partnership had 26 long positions (representing about 70% of total capital) and 9 short positions (representing 3% of total capital). The Partnership had no leverage and a 30% cash position giving our portfolio a net long position of about 70%.

Q4 2023 hedge fund letters, conferences and more

We have reduced our net cash position recently as...