Silver Ring Value Partners’ Q1 2022 Investor Letter

Silver Ring Value Partners, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. At the end of April 2022 the portfolio was very attractively priced, with the Price to Base Case value ratio at 58%. The portfolio had 14 investments plus hedges, cash at 1% and option-adjusted net exposure at 16%. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.