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Choice Equities Capital Management’s Q1 2019 Investor Letter

Choice Equities Capital Management is a boutique hedge fund, founded in 2017 by a Chartered Financial Analyst, Mitchell Scott. The fund mainly focuses on small cap stocks. Before launching his own fund, Mitchell Scott honed his investment acumen at KDI, where he was portfolio manager and analyst of FDS; he also worked at Anchor Capital. Mitchell Scott graduated cum laude from Clemson University and also earned an MBA from the University of North Carolina. Recently, Choice Equities Capital Management published its Q1 2019 Investor Letter, a copy of which you can download below. In the letter, the fund disclosed the quarterly return of 10.5% on a net basis.

“2019 is off to a solid start.The dour mood that marked markets at the end of the year has quickly faded and been replaced with more optimistic leanings as signs of looser monetary policy and progress on global trade initiatives have allayed investors ’fears. Though our portfolio lagged a touch in a largely vertical move for the markets in the quarter, Choice Equities Fund (CEF) fared well, up +13.1% and +10.5% on a gross and net basis. By comparison the Russell 2000 and S&P 500 were up +14.6% and +13.7%, respectively, putting our Small/Large blended benchmark up 14.4%. This latest update now means $1 invested in our portfolio since becoming independent in 2017 is worth $1.51 versus our Small/Large blended benchmark of $1.21.

EXECUTIVE SUMMARY

In this letter, we will highlight the notable performance drivers in the quarter as usual. We will then discuss recent portfolio changes and provide a write-up on our most recent addition in shares of US Xpress, Inc. Finally, we will welcome Thompson Clark, CFA to our team as Senior Analyst and discuss how his hiring fits into our plans as a boutique investment management firm.”

You can download a copy of Choice Equities Capital Management’s Q1 2019 Investor Letter here:

2019-Q1-CEF-Investor-Letter-1

You can also see the list of our 2019 Q1 investor letters and download them on this page.

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