Merion Road Capital Management’s Q1 2022 Investor Letter

Merion Road Capital Management, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. Merion Road Capital’s long-only strategy was down 14.3% in the first quarter of 2022. This is roughly comparable to its loss in Q1 2020 during the covid sell‐off. The obvious difference between the two periods is their relative (under)performance versus the broader market.  Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.