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I review each position in my portfolio on a yearly basis and now it’s time for Six Flags Entertainment (NYSE:SIX). In my last article, I went into more detail on the thesis for Six Flags linked here. In summary, the company appears to be undervalued when considering its profitability before the COVID-19 pandemic. Moreover, the new management team has taken a new approach by implementing price increases and making improvements to the parks. To make it easier to track my investments, I’ve been finding four metrics for all my investments. For SIX stock, the four metrics are attendance, AEBIT, AFCF, and revenue.

Vinci Partners is a Brazilian asset manager that operates in eight segments, including private equity, public equities, and investment products and solutions. The private markets segment, which includes private equity and other private investments, generates the majority of Vinci Partners’ revenue and income. Vinci Partner’s high returns on capital, low valuation, insider ownership, and growth potential in private equity make it an attractive investment opportunity.

Summary of my Portfolio as of Q1 2023.

Onex reported lukewarm performance in 2022 with fee earnings assets under management (FEAUM) growth at only 3% and a challenging fundraising environment for new funds. However, their private equity portfolio returned 3%, compared to a decline of 18% for the S&P 500. The biggest risk for Onex is fundraising for their new funds, however the company’s current stock price trading at a considerable discount to book value. Management has been actively buying back stock, with Onex purchasing over 6 million shares in 2022.

I provide an update on the financial performance of Good Times Restaurants (GTIM) for 2022 and the first quarter of 2023. The company experienced no restaurant growth, declining restaurant-level margins, and an increase in food and labor costs in 2022, despite a positive comparable restaurant sales figure. However, there are signs that things may be improving in 2023, with food price inflation expected to decline and menu price increases exceeding input costs. GTIM is still in a good position to survive in these tough times, with no debt and access to an $8m line of credit