Alluvial Capital Management, an investment advisory firm, released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The second quarter was strong for the fund and returned 9.0% compared to 5.3% for the Russell 2000 Index and 4.8% for the Russell Microcap Index. Since inception and year-to-date, the fund remains well ahead of benchmarks. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Alluvial Capital Management highlighted stocks like P10, Inc. (NYSE:PX) in the second quarter 2023 investor letter. Headquartered in Dallas, Texas, P10, Inc. (NYSE:PX) provides multi-asset class private market solutions in the alternative asset management industry. On July 24, 2023, P10, Inc. (NYSE:PX) stock closed at $11.65 per share. One-month return of P10, Inc. (NYSE:PX) was 5.24%, and its shares gained 1.30% of their value over the last 52 weeks. P10, Inc. (NYSE:PX) has a market capitalization of $1.352 billion.
Alluvial Capital Management made the following comment about P10, Inc. (NYSE:PX) in its second quarter 2023 investor letter:
“Little has changed at the top of the portfolio. Our largest holding, P10, Inc. (NYSE:PX), delivered a pleasant surprise by qualifying for inclusion in the Russell 2000 Index, something that I had thought was at least another year away. Index inclusion, and the passive investors and fund flows that it brings, is one of the best ways for small public companies to reduce their cost of capital. I attended the company shareholder meeting in June and was pleased with management’s strategic vision for the company. Despite a more challenging fund-raising environment, P10’s asset managers continue to deliver. P10’s flagship RCP Advisors just announced it had raised almost $800 million for its RCP Secondary Opportunity Fund IV, well above the $500 million target.”
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P10, Inc. (NYSE:PX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held P10, Inc. (NYSE:PX) at the end of first quarter which was 10 in the previous quarter.
We discussed P10, Inc. (NYSE:PX) in another article and shared Alluvial Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 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.
