Investment management company Cove Street Capital recently released its “Small Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 7.82% compared to 6.23% for the Russell 2000 Index and 8.42% for the Russell 2000 Value Index. In 2022, the fund returned -10.34% compared to -20.44% decline for the Russell 2000 Index and -14.48% decline for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Cove Street Capital highlighted stocks like Climb Global Solutions, Inc. (NASDAQ:CLMB) in its Q4 2022 investor letter. Headquartered in Eatontown, New Jersey, Climb Global Solutions, Inc. (NASDAQ:CLMB) is a value-added information technology company. On January 11, 2023, Climb Global Solutions, Inc. (NASDAQ:CLMB) stock closed at $34.82 per share. One-month return of Climb Global Solutions, Inc. (NASDAQ:CLMB) was 7.80%, and its shares gained 3.74% of their value over the last 52 weeks. Climb Global Solutions, Inc. (NASDAQ:CLMB) has a market capitalization of $155.915 million.
Cove Street Capital made the following comment about Climb Global Solutions, Inc. (NASDAQ:CLMB) in its Q4 2022 investor letter:
“Climb Global Solutions, Inc. (NASDAQ:CLMB), formerly known as Wayside Technology Group, is a software and hardware distributor that helps new-to-market software companies sell to Value Added Resellers (VARs) and IT solution providers such as CDW, who then sell to the end user. In January 2020, the company promoted Dale Foster to CEO, and since then, he has put the company on a great trajectory to grow market share. The top four biggest software distributors generate over $100 billion in sales per year, while Climb has only ~$300 million in revenue. The company is small enough to not be on the larger players’ radar, which is advantageous to Foster as he continues to execute his strategy of growing the company’s revenue and profit by focusing on emerging technology players.”
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Climb Global Solutions, Inc. (NASDAQ:CLMB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 4 hedge fund portfolios held Climb Global Solutions, Inc. (NASDAQ:CLMB) at the end of the third quarter, which was 3 in the previous quarter.
We discussed Climb Global Solutions, Inc. (NASDAQ:CLMB) in another article and shared Cove Street Capital’s views on the company in the previous quarter. 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.
