Saga Partners 4Q19 Commentary

Saga Partners letter to investors for the fourth quarter ended December 31, 2019. Q4 2019 hedge fund letters, conferences and more During the fourth quarter of 2019, the Saga Portfolio (“the Portfolio”) increased 23.9% gross of fees. This compares to the overall increase, including dividends, for the S&P Smallcap 600 Index and S&P 500 Index of 8.2% and 9.1%, respectively. The cumulative return since inception on January 1, 2017 for the Saga Portfolio is 96.2% gross of fees compared to the S&P Smallcap 600 Index and S&P 500 Index of 27.2% and 53.2%, respectively. The annualized return since inception for…