Alankrit Capital
Q1 2024
April 2nd, 2024
The portfolio is up 24.81% for the first quarter of 2024. The top contributors to the performance are Sygnity ( +54% Q1) and Fairfax Financial (+20% Q1).
On February 8th, Muddy Waters Research launched a short report against Fairfax Financial, which caused the stock to temporarily drop. Ironically, they compared Fairfax to General Electric. After reviewing the information alleged, I determined that it had no material effect on the company. Nor did my thesis for holding change. As a result, I took advantage of the drop to add to the position at an average of $940 ($1076 now).
In terms of positions, no new companies were added this quarter, though Sygnity has risen to the #1 position. I am looking forward to listening to their 2022/2023 recap on the 9th of this month.
However, as per the General Electric write up - I plan on adding GE as a position after the spin off completes (April 2nd 2024).
At the start of the year, FG Annuities and Life was trimmed. I was concerned about valuation, though the long term thesis is still intact. I am actively monitoring the price and earnings, while waiting for a new entry point to add more shares.
With that in mind, I look forward to another quarter, and attending the Berkshire Hathaway meeting in May.
Anshul Puri
This document is intended for informational purposes. Past performance does not dictate future performance. Nothing is financial advice.
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