Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” first-quarter 2023 investor letter, a copy of which can be downloaded here. In the first quarter, the fund was flat on a net basis (-0.06%) compared to R2000V’s decline of -0.7% and R2500V’s rise of +1.4%. Financials was the leading contributor towards the fund’s relative performance in the quarter with positive stock selection while Health Care and Information Technology detracted from the performance. 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 highlighted stocks like Hillman Solutions Corp. (NASDAQ:HLMN) in the first quarter 2023 investor letter. Headquartered in Cincinnati, Ohio, Hillman Solutions Corp. (NASDAQ:HLMN) is a hardware products provider. On April 21, 2023, Hillman Solutions Corp. (NASDAQ:HLMN) stock closed at $8.22 per share. One-month return of Hillman Solutions Corp. (NASDAQ:HLMN) was 2.62%, and its shares lost 30.34% of their value over the last 52 weeks. Hillman Solutions Corp. (NASDAQ:HLMN) has a market capitalization of $1.599 billion.
Bernzott Capital Advisors US Small Cap Value made the following comment about Hillman Solutions Corp. (NASDAQ:HLMN) in its Q1 2023 investor letter:
“Hillman Solutions Corp. (NASDAQ:HLMN): A leading North American provider of hardware products and solutions with long standing strategic partnerships with retailers such as Home Depot, Lowes, Walmart, Tractor Supply and ACE Hardware. Superior brand positioning and distribution capabilities augmented by new product introductions and M&A should continue to drive repeatable and consistent earnings and free cash flow generation going forward. We expect management to use the strong cash flow generation to reduce Balance Sheet leverage which should lead to higher valuation multiples.”
Photo by JOSHUA COLEMAN on Unsplash
Hillman Solutions Corp. (NASDAQ:HLMN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Hillman Solutions Corp. (NASDAQ:HLMN) at the end of the fourth quarter which was 18 in the previous quarter.
We discussed Hillman Solutions Corp. (NASDAQ:HLMN) in another article and shared Conestoga Capital Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q1 2023 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.
