Aperture Discover Equity - Q1 2024 Manager Commentary

In Short

Quarterly comment on the Aperture Discover Equity Fund by Brad McGill, Aperture Investors

Aperture Discover Equity Fund: Commentary for Q1 2024


Quarter in review


We outperformed the RTY benchmark by roughly 400 bps net of fees during the first quarter with a reasonably healthy breadth of return, outperforming in 4 of our 6 sectors of focus. We continued our healthy new idea cadence following a very active Q4 and initiated two new long positions in the Consumer sector. Additionally, we exited two positions as stocks appreciated throughout the quarter and valuation levels rebounded. We experienced good performance breadth, with 11 positions contributing more than 50 bps during the quarter.


Download the full commentary below:

APSIIUA Commentary Q1 2024 FINAL.PDF

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