Fairlight Capital, an investment management company, released the “Fairlight Alpha Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 28.3% net of fees compared to 7.9% returns for the S&P 500 Total Return index. The rebound in the market helped the fund to outperform in the quarter. For the year 2022, the fund returned 16.1% compared to -18.1% returns for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Fairlight Capital highlighted stocks like Opera Limited (NASDAQ:OPRA) in the Q4 2022 investor letter. Headquartered in Oslo, Norway, Opera Limited (NASDAQ:OPRA) is a mobile and PC web browser provider. On January 17, 2023, Opera Limited (NASDAQ:OPRA) stock closed at $6.85 per share. One-month return of Opera Limited (NASDAQ:OPRA) was 12.30%, and its shares gained 8.04% of their value over the last 52 weeks. Opera Limited (NASDAQ:OPRA) has a market capitalization of $612.724 million.
Fairlight Capital made the following comment about Opera Limited (NASDAQ:OPRA) in its Q4 2022 investor letter:
“In addition to the bank analysis above we have also started to build a new position in a US-listed small-cap tech stock Opera Limited (NASDAQ:OPRA). This is a business where the revenue growth picture and earnings over the last 12-18 months have been ciphered by temporarily inflated costs. But the growth in revenue is now beginning to show through and should become more obvious in the next few quarters. This company also has a significant amount of cash, cash equivalents and marketable securities.
There have also been recent developments relating to the above stock occurring during the writing of this letter. At the beginning of 2023 the stock was trading in the $6.00 area at a market cap of $550 million, but on January 12 the company announced the distribution of a $0.80 (per ADS) dividend. The stock has re-rated somewhat to $6.90, but we believe still represents great value…” (Click here to read the full text)
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Opera Limited (NASDAQ:OPRA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held Opera Limited (NASDAQ:OPRA) at the end of the third quarter, which was 5 in the previous quarter.
We discussed Opera Limited (NASDAQ:OPRA) in another article and shared the best artificial intelligence stocks under $10. In addition, please check out our hedge fund investor letters Q4 2022 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.
