Liberty Park Capital Management, LLC, a financial management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 7.45%, net of fees, in the first quarter compared to the Russell 2000 Index’s 2.74% return. The long position of the fund gained 6.02% while the short position fell 1.25% in the quarter. The long position contributed 6.16% and the short position contributed 1.08% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 0.57%, net of fees in the first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Liberty Park Capital highlighted stocks like Altair Engineering Inc. (NASDAQ:ALTR) in the first quarter 2023 investor letter. Headquartered in Troy, Michigan, Altair Engineering Inc. (NASDAQ:ALTR) is a software and cloud solutions provider. On May 02, 2023, Altair Engineering Inc. (NASDAQ:ALTR) stock closed at $67.49 per share. One-month return of Altair Engineering Inc. (NASDAQ:ALTR) was -4.51%, and its shares gained 20.50% of their value over the last 52 weeks. Altair Engineering Inc. (NASDAQ:ALTR) has a market capitalization of $5.452 billion.
Liberty Park Capital made the following comment about Altair Engineering Inc. (NASDAQ:ALTR) in its Q1 2023 investor letter:
“We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.
Altair Engineering Inc. (NASDAQ:ALTR) reported better-than-expected earnings and guidance. The company benefitted from a recovery in technology stocks, which was especially strong for companies associated with artificial intelligence.”
Photo by Caspar Camille Rubin on Unsplash
Altair Engineering Inc. (NASDAQ:ALTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Altair Engineering Inc. (NASDAQ:ALTR) at the end of the fourth quarter which was 19 in the previous quarter.
We discussed Altair Engineering Inc. (NASDAQ:ALTR) in another article and shared Polen U.S. Small Company Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
