Alta Fox Opportunities Fund Q1 2020 Quarterly Letter

Alta Fox Capital is a long/short hedge fund.

In Q12020, the fund decreased 26.77% gross and 26.98% net. The average net exposure during the quarter was 67.60%.

April was tracking at our best monthly performance since inception. While we are still down on the year, we are up significantly from the end of Q1.

We are long dominant businesses with strong free cash flow at generally reasonable multiples. We are short expensive and questionable business models with weak cash flow conversion and dubious corporate governance.

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