Central Square Management is a long/short hedge fund that was founded in 2007 by Kelly Cardwell. The firm typically employs fundamental-based analysis, along with a bottom-up stock-picking method, when choosing which equities to invest in. The hedge fund’s equity portfolio is quite diversified and is currently valued at around $103 million.
In addition to Central Square, which held the stock as its top pick as of its last 13F filing, numerous institutional investors have been betting on PICO Holdings Inc (NASDAQ:PICO). Chuck Royce’s Royce & Associates is the largest one amongst them, with a stake of 2.59 million shares. However, not unlike the other two stocks discussed above, PICO Holdings’ share prices have also been plummeting, losing around 19% of their value in 2014. However, Central Square has been betting on the company since the last quarter of 2013 and continues to remain bullish regarding its future.