Marlin Global reports quarterly performance decline

Marlin Global reported a decline in gross performance and adjusted net asset value (NAV) for the quarter ended September 30, 2024.

Gross performance was down 1.4% and the adjusted NAV was down 2%, while the company's global benchmark was up 5.5%.

The underperformance was attributed to a shift in market leadership, with small companies and value stocks outperforming growth stocks.

In September, the Chinese government's stimulus package led to a strong rally in the China market.

The portfolio faced four stock-specific issues, with Floor and Decor (+30%) and Mastercard (+13%) being the standout performers.

However, Edwards Lifesciences (-27%) and Dexcom (-40%) experienced sharp declines.

Marlin Global added Hermès and Nvidia to its portfolio and exited positions in Dollar Tree and Dollar General.