Saga Partners Q2 2019 Investor Letter

Aug. 07, 2019 9:17 AM ETMETA, LIMAF, TRUP, TTD, UA, LNR:CA2 Comments
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Saga Partners
815 Followers

Summary

  • Saga Partners is a fundamental, long-only, public equity portfolio with the goal to provide returns above the general market over the long-term.
  • The Portfolio has a long-term investing philosophy, seeking high-quality companies, growing intrinsic value at attractive prices.
  • During 2Q19, the Saga Portfolio increased 11.3% net of fees. This compares to the overall increase, including dividends, for the Russell 2000 and S&P 500 Index of 2.1% and 4.3%,respectively.

QUARTERLY REPORT
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This article was written by

Saga Partners profile picture
815 Followers
Saga Partners manages a fundamental, long-term, investment portfolio for clients. The Portfolio is a fundamental, long-only, public equity investment strategy. Its goal is to provide returns above the general market over the long-term. Saga takes a long-term horizon when investing, looking for a few high-quality companies selling below intrinsic value. Companies are selected based on three main criteria: 1. Is the company building a durable competitive advantage? 2. Is management high-caliber and think/act like owners? 3. Does the current price provide an attractive return if the company is owned for 10+ years? Good opportunities are difficult to find, so if a company meets all three criteria, the Portfolio will take fairly concentrated positions in its highest conviction ideas, typically holding around 10 companies.

Disclosure: I am/we are long TTD, LIMAF, FB, TRUP, UA. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

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