Palm Capital’s Q2 2021 Investor Letter

Palm Capital, an investment management firm, published its second-quarter 2021 investor letter – a copy of which can be downloaded here. Over the three months ending 30 June 2021, our portfolio increased by 12.3% after management fees & trading expenses. Since the fund started, its portfolio has returned 15.2% per annum after management fees & expenses. The fund has outperformed the MSCI World Index by 3.9% per annum while holding better businesses and buying them below their worth. You can take a look at the fund’s top 5 holdings to have an idea about their top bets for 2021.