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Alluvium

Mar 2025 → Sep 2026 · Publishes quarterly · 3 funds

Our archive holds 9 letters from Alluvium, behind 8 investment theses and positions in 23 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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9
Letters
23
Companies
24
Moves
8
Theses

3 strategies

Alluvium publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

Returns as reported in each strategy’s latest letter, extracted automatically and not verified by us; one share class, in its own currency. Not investment advice. Past performance does not predict future returns.

What they bought and sold · 24 moves

Companies held · 23

Every company Alluvium has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 8

  • Jack Henry
    September 2026

    Jack Henry provides payment processing and software infrastructure to banks and credit unions, and the fund bought it for its quality, growing earnings base, and now-reasonable valuation.

    Read the full thesis
  • Dick's Sporting Goods
    September 2026

    Dick’s Sporting Goods is a sporting goods retailer, and the fund bought more after an extreme share price reaction widened the discount to valuation.

    Read the full thesis
  • Universal Music Group
    September 2026

    Universal Music owns and produces music, and the fund values its resilient streaming/subscription earnings and long-term growth despite weak quarterly growth numbers.

    Read the full thesis
  • Charter Communications
    September 2026

    Charter Communications is a cable company, and the fund sees the stock as distressed on valuation while concluding debt is manageable, though the business fundamentals remain a concern.

    Read the full thesis
  • Autonation
    September 2026

    Autonation is a US car dealer, and the fund likes its operating leverage, strong cash flow, and potential benefits from industry consolidation.

    Read the full thesis
  • Ryanair
    September 2026

    Ryanair is a low-cost airline, and the fund sees it as well positioned competitively but still waiting for valuation and industry conditions to improve.

    Read the full thesis
  • Copart
    June 2026

    Copart is a duopoly car auction platform with strong historical growth, negligible debt, high ROIC, and what the managers see as an attractive entry point after a large share price decline.

    Read the full thesis
  • Alibaba
    June 2026

    Alibaba is an AI scaler using cash-generative legacy businesses to fund cloud growth and broader AI investments.

    Read the full thesis

Letter archive · 9

2026

2025

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