Alta Fox Q3’19 Investor Letter

Alta Fox Capital Management, LLC released its 2019 Q3 investor letter – you can download a copy below.

According to the letter, the fund lost 2.21% gross and 2.10% net in the quarter. The returns compared favorably to the -2.40% return for the Russell 2000 and -5.4% return for the Russell Microcap index, but unfavorably to the S&P 500’s 1.70% return.

Year to date, the fund has managed a return of 48.81% gross and 38.24% net compared to 20.55% for the S&P 500, 17.58% for the Russell 2000, and 12.59% for the Russell Microcap index.

In detailing its results, Alta Fox offered commentary on a number of its positions in the quarter.

A copy of the letter can be downloaded here.