Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 13.09% compared to a 15.26% return for the Russell 2000 Value Index. The Fund returned 16.00% in 2023 vs. 14.65% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
FPA Queens Road Small Cap Value Fund featured stocks like InterDigital, Inc. (NASDAQ:IDCC) in the fourth quarter 2023 investor letter. Headquartered in Wilmington, Delaware, InterDigital, Inc. (NASDAQ:IDCC) researches and develops technologies that enable and enhance wireless communications. On February 29, 2024, InterDigital, Inc. (NASDAQ:IDCC) stock closed at $107.02 per share. One-month return of InterDigital, Inc. (NASDAQ:IDCC) was 2.23%, and its shares gained 45.57% of their value over the last 52 weeks. InterDigital, Inc. (NASDAQ:IDCC) has a market capitalization of $2.728 billion.
FPA Queens Road Small Cap Value Fund stated the following regarding InterDigital, Inc. (NASDAQ:IDCC) in its fourth quarter 2023 investor letter:
“InterDigital, Inc. (NASDAQ:IDCC) is a research and development organization that develops and acquires wireless and video patents across key technologies. The company has a history of strong financial performance, opportunistically buys back shares, and pays a modest dividend. Shares jumped at the beginning of the year when InterDigital announced licensing renewals with Samsung, LG, and Panasonic and then reported strong fourth quarter 2022 results. 15 Shares jumped again following strong third quarter 2023 results (reported on November 2, 2023) that included both additional licensing revenue at very high incremental margins and additional share buybacks.”
A technician installing advanced cellular equipment at a 5G cell tower.
InterDigital, Inc. (NASDAQ:IDCC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, InterDigital, Inc. (NASDAQ:IDCC) was held by 24 hedge fund portfolios, up from 19 in the previous quarter, according to our database.
We discussed InterDigital, Inc. (NASDAQ:IDCC) in another article and shared the list of recent additions to the Jim Cramer stock portfolio. 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:
- 12 Best Remote Jobs That Pay at Least $50 an Hour
- 14 Social Security Spousal Benefits and Loopholes You Need to Know
- 25 Countries with Most Gold Reserves in 2024
Disclosure: None. This article is originally published at Insider Monkey.
