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Qualivian Investment Partners Q4 2023 Letter

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Jacob Wolinsky
Published on
Updated on
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Qualivian Investment Partners performance and commentary on the fourth quarter of 2023 update.

Dear Friends of the Fund,

We are resending our Q4 2023 investor letter for your review in our new double column format. We would appreciate your feedback if you prefer this format or not. Qualivian reached its six year mark in December of 2023. We are actively weighing investment proposals.

Please refer to our investor letter below for our performance and commentary on the fourth quarter of 2023.

Read more hedge fund letters here

  • Concentrated (15-25 holdings), best-ideas equity strategy with 3 to 5+ year holding periods
  • Launched in Dec. '17 by Aamer Khan, CFA, and Cyril Malak; both experienced investors (Eaton Vance, Putnam, Principal), strategy consultants (Bain, Gemini/MAC Group), and Wharton MBAs from the '90s
  • Seek stocks that are "Quality Compounders," with wide moats and shareholder-friendly management teams that rationally deploy capital at rates of return well in excess of their cost of capital
  • The fund is designed to offset issues that typically mute investment performance returns at larger asset managers (e.g. over-diversification, excessive trading/frictional costs, information loss, and short-termism)

Cumulative Performance:

At the time of writing the Q4 letter, Qualivian Investment Partners introduced a Separately Managed Account (SMA) product for investors managed in the same manner as the Qualivian Focus Fund (QFF).

Please refer to the Q4 letter and our marketing deck below for the key difference between the SMA and Qualivian Focus Fund performance.

We are attaching Qualivian's performance through December 31, 2023 reflecting both our SMA (here) and Founders Class Shares (here) products. Please refer to these reports for the detailed performance for different time periods.

QFF (SMA) outperformed QUAL by 34.2% and 29.9% and the S&P 500 by 12.3% and 8.0% on a gross and net basis respectively from inception (Dec. 14, 2017) through December 31, 2023.

View Our Deck:

Need a refresher on Qualivian's strategy, investments, and operations.  Please click here to review our marketing deck and familiarize yourself with our strategy and process.

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Jacob Wolinsky is the ex-Founder of Valuewalk.com (founded 2011, sold 2023). He is founder of HedgeFundAlpha (formerly ValueWalk Premium), a hedge fund focused intelligence service for institutional investors. Prior to founding Valuewalk, Jacob worked as an equity analyst covering small caps, a micro-cap analyst, doing member development a large hedge fund community and freelance financial writing. Jacob lives with his wife and five kids in Passaic NJ. - Email: jacob(at)hedgefundalpha.com. For confidential inquires email me for my Signal id. Other methods of secure communication are also available.FD: I almost exclusively avoid the purchase of equities to avoid conflict of interest and any insider information. I only purchase broad-based ETFs and mutual funds. I will disclsoe if I have a stake in any company, but in general avoid