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Headwaters Capital Management’s Q3 2024 Investor Letter

Headwaters Capital Management, an investment management company, released its third-quarter 2024 investor letter. The fund returned 9.0% (+8.8% net) in the third quarter compared to a 9.2% return for the Russell Mid Cap Index. Interest rate reductions have generally driven small cap outperformance. Small caps benefited in Q3 after the Fed started the anticipated easing cycle with a 50-basis point rate drop in September. In addition, you can check the fund's top 5 holdings to determine its best picks for 2024.

A copy of Headwaters Capital Management’s Q3 2024 investor letter can be