Alluvial Capital Management’s Q1 2021 Investor Letter

Alluvial Capital Management, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 12.4% was delivered by the fund for the Q1 of 2021, outperforming the MSCI World Sm+MicroCap NR benchmark that delivered a 9.8% return, but below the Russell MicroCap TR and Russell 2000 TR index that had a 23.9% and 12.7% gains respectively for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.