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Maran Capital Q2 Investor Letter

"While my concentrated approach means that returns will be lumpy, I am encouraged by the fact that, in general, our holdings trade at large discounts to intrinsic value, and their values continue to grow. I remain committed to first and foremost protecting, and then growing our capital in a world where many seem to be taking larger and larger risks. We own a portfolio of what I think are truly compelling...

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