White Brook Capital Fund’s NAV fell by 35.79% in the first quarter. This is not the kind of returns that we’re used to getting from White Brook Capital. Basil Alsikafi is one of those activist investors who can still claim that his stock picks performed better than the S&P 400 Index since the inception of his hedge fund in August 2019. White Brook Capital delivered annualized gains of 18.14% vs. 9.11% for the S&P 400.
You can download a copy of White Brook Capital’s latest investor letter below: