Bernzott Capital Advisors Exited SP Plus (SP) on Acquisition Announcement

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 SP Plus Corporation (NASDAQ:SP) in the Q4 2023 investor letter. Based in Chicago, Illinois, SP Plus Corporation (NASDAQ:SP) is a parking services company that provides professional parking, ground transportation, facility maintenance, security, event logistics, and baggage handling and related services. On February 13, 2024, SP Plus Corporation (NASDAQ:SP) stock closed at $51.31 per share. One-month return of SP Plus Corporation (NASDAQ:SP) was -0.27%, and its shares gained 35.49% of their value over the last 52 weeks. SP Plus Corporation (NASDAQ:SP) has a market capitalization of $1.016 billion.

Bernzott Capital Advisors US Small Cap Value Fund stated the following regarding SP Plus Corporation (NASDAQ:SP) in its fourth quarter 2023 investor letter:

“Industrials were the leading contributor to the portfolio’s returns. Stock selection was the main driver within Industrials with both SP Plus Corporation (NASDAQ:SP) and Granite Construction advancing more than 30%. SP Plus benefited from a take private transaction by Metropolis Technologies for $54 per share. We exited the position shortly after the announcement locking in a sizable gain.”

Engineering, Construction, Company

Alexey Y. Petrov/Shutterstock.com

SP Plus Corporation (NASDAQ:SP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. s per our database, 16 hedge fund portfolios held SP Plus Corporation (NASDAQ:SP) at the end of third quarter which was 15 in the previous quarter.

We discussed SP Plus Corporation (NASDAQ:SP) in another article and shared Aristotle Small Cap Equity Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.