Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 1.61% compared to 5.18% for the Russell 2000 Index and 2.90% for the Russell 2000 Value Index. The first quarter of calendar year 2024 was mostly more of the recent same. US investors focused on the Federal Reserve’s comments and still expecting interest rate cuts in 2024. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Cove Street Small Cap Value Fund featured stocks like Climb Global Solutions, Inc. (NASDAQ:CLMB) in the first quarter 2024 investor letter. Headquartered in Eatontown, New Jersey, Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added information technology company. On April 10, 2024, Climb Global Solutions, Inc. (NASDAQ:CLMB) stock closed at $69.57 per share. One-month return of Climb Global Solutions, Inc. (NASDAQ:CLMB) was 5.73%, and its shares gained 31.54% of their value over the last 52 weeks. Climb Global Solutions, Inc. (NASDAQ:CLMB) has a market capitalization of $317.766 million.
Cove Street Small Cap Value Fund stated the following regarding Climb Global Solutions, Inc. (NASDAQ:CLMB) in its first quarter 2024 investor letter:
“Climb Global Solutions, Inc. (NASDAQ:CLMB) simply continues to execute on their business plan, putting up the latest of a string of double-digit quarterly earnings growth. They remain a minnow in a zillion dollar space that connects new technology that lacks distribution with a buying community hungry for evolving product in the usual favorites – cybersecurity, AI and cloud. (Finally a chance to use those words in one sentence!)”
A technician in a server room of a corporate office surrounded by servers and networking equipment.
Climb Global Solutions, Inc. (NASDAQ:CLMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Climb Global Solutions, Inc. (NASDAQ:CLMB) was held by 4 hedge fund portfolios, compared to 4 in the previous quarter, according to our database.
We discussed Climb Global Solutions, Inc. (NASDAQ:CLMB) in another article and shared Headwaters Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q1 2024 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.
