Alankrit Capital
Q2 2024
July 29th, 2024
Alankrit Capital experienced a decline of 1.23% for the second quarter of 2024.
The top detractor to our performance was Moberg Pharma, which at one point was down nearly 30%.
As mentioned in our coverage of General Electric, when the company spun off its energy green business on April 2nd, we took a stake in General Electric afterward. It has performed remarkably well, and we are excited to see the continued success of the company over the next few years.
We also believe that going long on European defense will be beneficial in the coming years. To capitalize on this, we have opened positions in Leonardo and Kongsberg Gruppen.
Two companies we find interesting, but have not yet taken a stake in, are and NewMarket ( ).
AON deals with insurance, but investors have not been too pleased about their acquisition of NFP. This was a very expensive acquisition and required diluting investors. However, this acquisition should provide a healthy dose of extra cash flow. I think this was a good, though not amazing, buy. But the market does seem to consider it a net negative. As long as nothing poor happens results-wise, I think it will allow AON to grow and outperform the index in the future.
NewMarket is a chemicals company that holds some interesting assets. I'd like to understand more about their acquisition of American Pacific. AMPAC creates vital chemical solutions which are used in rockets (critical parts of both aerospace & defense) and more.
With that in mind, I look forward to another quarter.
Feel free to message me any time.
Anshul Puri
puriansh@iu.edu
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