Liberty Park Capital Management, LLC, a financial management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund returned -2.29% net of fees, in the third quarter compared to a 5.10% decline in the Russell 2000 Index. On a weight-adjusted basis, the 6.70% decline in the fund’s long holdings deducted 6.22%, while the 7.27% decline in its short positions added 3.67% to its returns. Liberty ParkSelect Opportunities decreased by 11.57%, net of fees, in the third quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Liberty Park Capital Management highlighted stocks like Luna Innovations Incorporated (NASDAQ:LUNA) in the third quarter 2023 investor letter. Headquartered in Roanoke, Virginia, Luna Innovations Incorporated (NASDAQ:LUNA) is an advanced optical technology company. On December 15, 2023, Luna Innovations Incorporated (NASDAQ:LUNA) stock closed at $6.47 per share. One-month return of Luna Innovations Incorporated (NASDAQ:LUNA) was 15.74%, and its shares lost 29.13% of their value over the last 52 weeks. Luna Innovations Incorporated (NASDAQ:LUNA) has a market capitalization of $219.712 million.
Liberty Park Capital Management made the following comment about Luna Innovations Incorporated (NASDAQ:LUNA) in its Q3 2023 investor letter:
“Luna Innovations Incorporated (NASDAQ:LUNA) shares fell after reporting lower-than-expected guidance caused by a slowdown in its communications test segment. The company’s sensing business continues to grow >20% year-over-year. The communications test segment accounts for roughly 25% of LUNA’s sales. We expect the slowdown in communications test to be temporary and for the sensing business to grow as a percentage of sales over time.”
An assembly line of workers inspecting and assembling fiber optic gyros.
Luna Innovations Incorporated (NASDAQ:LUNA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held Luna Innovations Incorporated (NASDAQ:LUNA) at the end of third quarter which was 8 in the previous quarter.
We discussed Luna Innovations Incorporated (NASDAQ:LUNA) in another article and shared Liberty Park Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
