Greenhaven Road Capital, an investment management company, released its fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned -4.3% net in the fourth quarter. The fund’s performance compares favorably on a three- and five-year basis. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Greenhaven Road Capital highlighted stocks like APi Group Corporation (NYSE:APG) in the Q4 2022 investor letter. Headquartered in New Brighton, Minnesota, APi Group Corporation (NYSE:APG) is a safety, specialty, and industrial services provider. On February 13, 2023, APi Group Corporation (NYSE:APG) stock closed at $21.76 per share. One-month return of APi Group Corporation (NYSE:APG) was 5.63%, and its shares lost 0.68% of their value over the last 52 weeks. APi Group Corporation (NYSE:APG) has a market capitalization of $5.09 billion.
Greenhaven Road Capital made the following comment about APi Group Corporation (NYSE:APG) in its Q4 2022 investor letter:
“APi Group Corporation (NYSE:APG) – Discussed at length in the last letter, API Group held an investor day in November to highlight the opportunities created from their acquisition of Chubb, the European fire safety business of Carrier insurance. I walked away from the event still convinced that there is a reasonable path to growing free cash flow to $1B as supply chain issues normalize, the Chubb opportunity is seized, and working capital dynamics normalize, which is attractive when compared to its $4.5B market capitalization. There is also the opportunity for multiple expansion, as the company trades at a discount to peers despite the superior quality of the business. This is another business that takes no imagination for me to see a doubling or tripling of the share price in the intermediate term. In the end, fundamentals matter and I think they are on our side with API Group.”
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APi Group Corporation (NYSE:APG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held APi Group Corporation (NYSE:APG) at the end of the third quarter which was 29 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 2022 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.
