Dear Friends & Partners,
Our investment returns are summarized in the table below:
|
Strategy |
Month |
YTD |
12 Months |
24 Months |
36 Months |
Inception |
|
LRT Global Opportunities |
+11.98% |
+21.73% |
-7.74% |
+8.03% |
-2.47% |
+19.75% |
| Results as of 8/31/2024. Periods longer than one year are annualized. All results are net of all fees and expenses. Past returns are no guarantee of future results. Please see the end of this letter for additional disclosures. |
LRT Global Opportunities is a systematic long/ short strategy that seeks to generate positive returns while controlling downside risks and maintaining a low net exposure to the equity markets.
For the month of August, the strategy was up+11.98%, bringing overall results to+21.73% for the year. All results are net of fees. Beta-adjusted net exposure was 23.97% at month end. The attribution of August’s return was 0.30% from market beta, and +11.68% from our alpha generation. 1 Our longs contributed to performance while our shorts were basically flat. Top gainers on the long side included Aspen Technology, Inc. (AZPN), Eli Lilly and Company (LLY), Northrop Grumman Corporation (NOC), The Trade Desk, Inc. (TTD) and Lithia Motors Inc. (LAD) partially offset by losses on Cognex Corporation (CGNX), Asbury Automotive Group, Inc. (ABG), and Dollar General Corporation (DG). See the appendix for additional disclosures.
I take seriously the responsibility and the trust that you have given me as a steward of a part of your savings. As always, if you have any questions, please don’t hesitate to contact me. I appreciate all your ongoing support.
Lukasz Tomicki | Portfolio Manager | LRT Capital
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