Long Cast Advisers, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. While the major indices saw double-digit gains in certain situations, the cumulative returns of the fund for the 4Q23 quarter (which ended on December 31, 2023) were -8%. Cumulative net returns were +10% for the year. LCA has returned a total of 165% net of fees, or 13% CAGR, since its launch in November 2015 through the end of the third quarter of 2023. Examine the top 5 holdings of the fund for a brief understanding of their best picks for 2023.
Long Cast Advisers featured stocks such as Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) in the fourth quarter 2023 investor letter. Headquartered in Atlanta, Georgia, Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) is an environmental and technology know-how company. On February 12, 2024, Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) stock closed at $7.77 per share. One-month return of Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) was -2.26%, and its shares gained 17.02% of their value over the last 52 weeks. Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) has a market capitalization of $105.775 million.
Long Cast Advisers stated the following regarding Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) in its fourth quarter 2023 investor letter:
“I recently met someone who worked at the Hanford site who spoke highly of Perma-Fix Environmental Services, Inc.’s (NASDAQ:PESI) management and indicated that despite persistent squabbles between state, local and federal agencies eventually PESI would get the grouting project. Signs continue to point to a likely 2024/2025 start. That alone could contribute +$2 / share in earnings. As I wrote two quarters ago, it seems worth the wait.”
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Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) at the end of third quarter which was 6 in the previous quarter.
We discussed Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) in another article and shared the list of best waste management stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.
