Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund delivered 3.70% in the second quarter compared to a 5.21% return for the Russell 2000 Index and 3.18% for the Russell 2000 Value Index. The portfolio’s differentiated holdings within the Financials and Real Estate sectors contributed to absolute and relative returns in the quarter, while lack of exposure to Health Care and relative overweight to Consumer Staples weighed on relative results. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Longleaf Partners Small-Cap Fund highlighted stocks like Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) in the second quarter 2023 investor letter. Based in Englewood, Colorado, Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) owns and operates a league baseball club. On September 7, 2023, Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) stock closed at $36.54 per share. One-month return of Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) was 10.06%, and its shares gained 55.40% of their value over the last 52 weeks. Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) has a market capitalization of $2.322 billion.
Longleaf Partners Small-Cap Fund made the following comment about Atlanta Braves Holdings, Inc. (NASDAQ:BATRK)) in its Q2 2023 investor letter:
“Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) – Liberty Braves Group, which owns the Atlanta Braves baseball team and real estate around the stadium, was another top contributor in the quarter. Liberty is on track to spin out this tracking stock as a standalone company in the third quarter, which is likely to result in a price re-rating, as we have seen in numerous other Liberty tracking stock investments over our history. The baseball team is off to a strong start this season, and the Braves sold out of season ticket inventory for the first time in franchise history and drew their largest home opening crowd in Truist Park history. Our appraisal has steadily grown, and we believe the Braves could be an interesting take-out candidate once it trades as a standalone business.”
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Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Atlanta Braves Holdings, Inc. (NASDAQ:BATRK) at the end of second quarter which was 24 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.
