Barac Capital's Q2 2019 Letter

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Includes: FDX, ROKU, TGT, UA, UAA, WBA
by: Ted Barac
Summary

Second quarter returns amounted to 4.4% on a net basis (3.8% for the benchmark), bringing year-to-date returns to 14.7% (13.4% for the benchmark).

Top individual contributors for the quarter included Roku (+46% to position exit), Under Armour (+18%), and Target (+9%).

I still believe that sitting on the sideline with a reduced equity position (during periods of heightened uncertainty) is prudent from a capital preservation perspective.

Editor's Note: The summary bullets for this article were chosen by Seeking Alpha editors.