Bernzott Capital Advisors Exited Api Group (APG) as it Reached Fair Value Target

Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2023 investor letter, a copy of which can be downloaded here. In the fourth quarter, the portfolio gained +14.1% on a net basis, lagging behind R2000V’s advance of +15.2% and above R2500V’s rise of +13.7%. The largest contribution to the gains on the portfolio was the industrial sector. Within Industrials, stock selection was the primary driver. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Bernzott Capital Advisors US Small Cap Value Fund featured stocks such as APi Group Corporation (NYSE:APG) in the fourth quarter 2023 investor letter. Headquartered in New Brighton, Minnesota, APi Group Corporation (NYSE:APG) is a safety, specialty, and industrial services provider.  On February 13, 2024, APi Group Corporation (NYSE:APG) stock closed at $34.15 per share. One-month return of APi Group Corporation (NYSE:APG) was 8.59%, and its shares gained 55.30% of their value over the last 52 weeks. APi Group Corporation (NYSE:APG) has a market capitalization of $8.316 billion.

Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding APi Group Corporation (NYSE:APG) in its fourth quarter 2023 investor letter:

“APi Group Corporation (NYSE:APG): Following several quarters of the company beating expectations as result of their acquisition of Chubb, we exited the position as the stock hit our fair value target. For the year, the stock appreciated over 84%.”

A worker in a factory wearing a safety uniform standing in front of a conveyor belt of products.

APi Group Corporation (NYSE:APG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held APi Group Corporation (NYSE:APG) at the end of third quarter which was 38 in the previous quarter.

We discussed APi Group Corporation (NYSE:APG) in another article and shared Greystone Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.