Greenhaven Road Capital, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 17% in the first quarter. Even though fears of runaway inflation waned in the quarter, investors’ concerns relating to the macroeconomic factors weren’t fully eliminated. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Greenhaven Road Capital highlighted stocks like KKR & Co. Inc. (NYSE:KKR) in the first quarter 2023 investor letter. Headquartered in New York, New York, KKR & Co. Inc. (NYSE:KKR) is an equity and real estate investment firm. On May 19, 2023, KKR & Co. Inc. (NYSE:KKR) stock closed at $50.03 per share. One-month return of KKR & Co. Inc. (NYSE:KKR) was -4.69%, and its shares lost 3.70% of their value over the last 52 weeks. KKR & Co. Inc. (NYSE:KKR) has a market capitalization of $56.247 billion.
Greenhaven Road Capital made the following comment about KKR & Co. Inc. (NYSE:KKR) in its Q1 2023 investor letter:
“KKR & Co. Inc. (NYSE:KKR) – Given the concerns in the financial markets about a banking crisis and a run on banks, share prices of all “financials” declined during the first quarter. KKR was not spared, falling more than 10% as the Silicon Valley Bank saga unfolded with a parade of outflows triggered by some tweets, texts, and a few clicks in their apps. Other than being in the financials category, KKR could not have less in common with SVB. At KKR, capital is pooled in over 100 vehicles and can only leave KKR if there is an investment realization or the firm proactively decides to return the capital. In fact, over 45% of the fee-paying capital is permanent, and there is over $100B in “dry powder” that KKR will call when ready to invest in new opportunities. Private equity with permanent capital and mountains of dry powder is one of the most durable businesses I can imagine. KKR can and likely will outlast us all.”
Aleksandr Bagri/Shutterstock.com
KKR & Co. Inc. (NYSE:KKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held KKR & Co. Inc. (NYSE:KKR) at the end of the fourth quarter which was 59 in the previous quarter.
We discussed KKR & Co. Inc. (NYSE:KKR) in another article and shared Vulcan Value Partners’ 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.
Suggested Articles:
- 10 Stocks to Sell in 2023 According to Billionaire Steve Cohen
- 25 Best Places to Live With Lots of Jobs and Cheap Housing
- David Einhorn’s 2023 Portfolio: Top 15 Stock Picks
Disclosure: None. This article is originally published at Insider Monkey.
