180 Degree Capital Corp.’s Q1 2023 Investor Letter

180 Degree Capital Corp., an investment management firm, recently released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund performed well in a challenging and bear market for microcap funds and was able to gain a +5.7% gross total return for the first quarter of 2023. The Russell Microcap Index returned a -2.9% for the same quarter. The gross total return of the fund since inception in 2017 was +243.6% compared to 31.8% return for the Index. The consumer discretionary, industrials, and information technology sectors were the positive contributors while the communication services sector detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.