Bristlemoon September Quarterly Letter & AppLovin Writeup
The role of luck, portfolio adjustments we made in the quarter, and our AppLovin thesis
The Bristlemoon Global Fund returned 6.8% for the September 2024 quarter, net of fees. In our quarterly letter below, we discuss the role of luck and how one quarter’s performance is meaningless, portfolio adjustments we made in the quarter, as well as a writeup on one of our top five largest investments: AppLovin Corporation (Nasdaq: APP). We would also note that we still have some capacity available in our Class B (seed class) units. These units have material lifetime fee discounts and we will be closing our Class B (seed class) units to new applications by year end.
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Disclaimer / Disclosures
The information contained in this article is not investment advice and is intended only for wholesale investors. All posts by Bristlemoon Capital are for informational purposes only. This article has been prepared without taking into account your particular circumstances, nor your investment objectives and needs. This article does not constitute personal investment advice and you should not rely on it as such. This document does not contain all of the information that may be required to evaluate an investment in any of the securities featured in the document. We recommend that you obtain independent financial advice before you make investment decisions.
Forward-looking statements are based on current information available to the author, expectations, estimates, projections and assumptions as to future matters. Forward-looking statements are subject to risks, uncertainties and other known and unknown factors and variables, which may affect the accuracy of any forward-looking statement. No guarantee is made in relation to future performance, results or other events.
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Bristlemoon Capital Pty Ltd (ABN: 22 668 652 926) is an Australian Financial Services Licensee (AFSL Number: 552045).
George Hadjia is associated with Bristlemoon Capital Pty Ltd. Bristlemoon Capital may invest in securities featured in this newsletter from time to time.