Alluvial Capital Management, an investment advisory firm, released its fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 3.2% in the fourth quarter, bringing yearly returns to 15.1%. The portfolio typically lags during significant market movements, and the current quarter was no different. Despite being ahead of benchmarks through October, the fund achieved a decent outcome this year, outperforming the micro-cap index and trailing only small caps. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alluvial Capital Management featured stocks such as FitLife Brands, Inc. (NASDAQ:FTLF) in the fourth quarter 2023 investor letter. Headquartered in Omaha, Nebraska, FitLife Brands, Inc. (NASDAQ:FTLF) is a nutritional supplements provider. On January 30, 2024, FitLife Brands, Inc. (NASDAQ:FTLF) stock closed at $22.28 per share. One-month return of FitLife Brands, Inc. (NASDAQ:FTLF) was 12.61%, and its shares gained 30.32% of their value over the last 52 weeks. FitLife Brands, Inc. (NASDAQ:FTLF) has a market capitalization of $102.28 million.
Alluvial Capital Management stated the following regarding FitLife Brands, Inc. (NASDAQ:FTLF) in its fourth quarter 2023 investor letter:
“I remain enthusiastic about another large holding of ours, FitLife Brands, Inc. (NASDAQ:FTLF). Last I reported, FitLife had just closed on its acquisition of the assets of MusclePharm, a once high-flying exercise supplements brand that been mismanaged into bankruptcy. The potential synergies for FitLife and MusclePharm were obvious, with FitLife able to use its existing manufacturing relationships to create the product and then leverage its strong online channels to offer the product to customers. One of FitLife’s first tasks is to convince online retailers that previously stocked MusclePharm products to do so again. While FitLife has yet to report fourth quarter results, it appears progress is being made. Retailer iHerb.com, once a significant seller, now indicates MusclePharm products are “coming soon.” FitLife shares have performed well. The market is giving the company credit for its successes in acquiring choice assets out of bankruptcy and optimizing them. I don’t think the company is anywhere close to running out of opportunities.”
A technician carefully measuring the quality of a nutritional supplement.
FitLife Brands, Inc. (NASDAQ:FTLF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held FitLife Brands, Inc. (NASDAQ:FTLF) at the end of third quarter which was 0 in the previous quarter.
We discussed FitLife Brands, Inc. (NASDAQ:FTLF) in another article and shared Alluvial Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
