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Q1 2024 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned 7.51% (net of fees) in the first quarter, vs. 5.18% for the Russell 2000 TR, 10.56% for the S&P 500 TR, and 8.72% for the NASDAQ 100 TR.
Q4 2023 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned 5.35% (net of fees) in the fourth quarter, vs. 14.03% for the Russell 2000 TR, 11.69% for the S&P 500 TR, and 14.60% for the NASDAQ 100 TR. The KCA Value Composite returned 34.02% (net of fees) in Calendar Year 2023, or 17.09% outperformance measured against the Russell 2000 TR.
Q3 2023 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned 18.19% net of fees in the third quarter, vs. -5.13% for the Russell 2000 TR, -3.27% for the S&P 500 TR, and -2.86% for the NASDAQ 100 TR. The KCA Value Composite returned 27.21% net of fees Year-to-Date through September, or 24.67% outperformance measured against the Russell 2000 TR.
Q2 2023 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned 2.73% net of fees in the second quarter, vs. 5.21% for the Russell 2000 TR, 8.74% for the S&P 500 TR, and 15.39% for the NASDAQ 100 TR. The KCA Value Composite returned 31.36% net of fees since inception on January 13, 2022, or 42.64% cumulative outperformance when measured against the Russell 2000 TR.
Q1 2023 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned 4.77% net of fees in the first quarter, vs. 2.74% for the Russell 2000 TR, 7.50% for the S&P 500 TR, and 20.77% for the NASDAQ 100 TR. The KCA Value Composite returned 27.87% net of fees since inception on January 13, 2022, 43.54% cumulative outperformance when measured against the Russell 2000 TR.
Q4 2022 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned 2.92% net of fees in the fourth quarter, vs. 6.23% for the Russell 2000 TR and 7.56% for the S&P 500 TR. The KCA Value Composite returned 22.05% net of fees since inception on January 13, 2022, nearly 40% outperformance when measured against the Russell 2000 TR.
Q3 2022 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned (-1.60%) net of fees in the third quarter, vs. (-2.19%) for the Russell 2000 TR and (-4.88%) for the S&P 500 TR. This marks KCA’s third consecutive quarter outperforming our benchmark, the Russell 2000 TR. Year to date, the KCA Value Composite has returned 18.58% net of fees, over 40% outperformance vs. all major indices.
Q2 2022 Investor Letter
Kingdom Capital Advisors (KCA Value Composite) returned -8.63% net of fees in the second quarter, vs -17.20% for the Russell 2000 TR and -16.10% for the S&P 500 TR. Year to date, the Composite has returned 20.51% net of fees, nearly 40% outperformance vs all major indices.
Q1 2022 Investor Letter
Despite the “macro” backdrop, we are pleased to report the KCA Value Composite returned 31.89% net of fees in the first quarter, vs negative returns across the major indices. We do not aggressively celebrate strong quarterly performance just as we would not overly bemoan weak quarterly performance. Investing is a marathon, not a sprint, and our fund is based on our belief that short term price movements are often inefficient.