Old West Investment Management’s Q3 2021 Investor Letter

Old West Investment Management, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. All of the fund’s portfolios are outperforming the S&P this year by a wide margin, and they’ve been able to do this on the heels of a record 2020. The S&P 500 fell 4.6% in September but was still just a few percent from its all-time high. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.