McIntyre Capital Management, a private investment company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy returned 35% gross and 28% net in the first quarter, compared to the Russell 2000 Value’s decline including dividends of -1%. The year started with a strong market but bank failures and rising cyclical risks pulled back the performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.
McIntyre Partnership highlighted stocks like OneSpaWorld Holdings Limited (NASDAQ:OSW) in the first quarter 2023 investor letter. Based in Nassau, Bahamas, OneSpaWorld Holdings Limited (NASDAQ:OSW) is a health and wellness center operator onboard cruise ships and at destination resorts. On May 26, 2023, OneSpaWorld Holdings Limited (NASDAQ:OSW) stock closed at $10.64 per share. One-month return of OneSpaWorld Holdings Limited (NASDAQ:OSW) was -16.61%, and its shares gained 12.71% of their value over the last 52 weeks. OneSpaWorld Holdings Limited (NASDAQ:OSW) has a market capitalization of $1.078 billion.
McIntyre Partnership made the following comment about OneSpaWorld Holdings Limited (NASDAQ:OSW) in its Q1 2023 investor letter:
“In the winners column, OneSpaWorld Holdings Limited (NASDAQ:OSW) and STHO contributed 100-500bps, while SHC and MSGE contributed over 500bps. In the losers column, no investment lost more than 100bps. Beyond SHC, the fund also registered gains in two large and long held investments, MSGE and OSW, which rallied 34% and 33%, respectively. MSGE benefited from both strong earnings and anticipation of its value-unlocking spinoff, which I discuss below, while OSW rallied on a faster than anticipated return to profitability and the ongoing recovery in cruise travel. As cruise travel has not yet fully recovered from the pandemic, I believe the sector can improve further as capacity returns, even if overall consumer spending broadly pulls back.”
OneSpaWorld Holdings Limited (NASDAQ:OSW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held OneSpaWorld Holdings Limited (NASDAQ:OSW) at the end of the first quarter 2023 which was 16 in the previous quarter.
We discussed OneSpaWorld Holdings Limited (NASDAQ:OSW) in another article and shared the list of best cruise stocks to buy. 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.
