Old West Investment Management’s Q2 2021 Investor Letter

Old West Investment Management, an investment management firm, published its second-quarter 2021 investor letter – a copy of which can be downloaded here. The fund’s performance in the second quarter was in line with the S&P 500 gains of 8.4%, but its year-to-date numbers were very strong. The fund’s long-only separate accounts were up approximately 45% for the first half of the year, compared to the S&P’s 15% return. You can view the fund’s top 5 holdings to have an idea about their top bets for 2021.