Maran Capital Q1 Investor Letter

Maran Capital, a Denver-based value-driven investment management firm led by Dan Roller, recently published its Q1 Investor Letter (you can download a copy below). The return of Maran Partners Fund in the quarter was -2.2%, net of all fees and expenses.

At the end of the quarter, the partnership was 106% long by 13% short. The fund’s top five positions were Clarus Corp (CLAR), Scheid Vineyards (SVIN), Turning Point Brands (TPB), IAC Interactive Corp (IAC), and Biglari Holdings (BH).

You can download a copy of the letter here.