Argosy Investors, an investment management company, released its second-quarter investor letter. A copy of the same can be downloaded here. The S&P 500 returned 8.7% during the second quarter. The fund ended the quarter with 52% of the portfolio in cash and equivalents. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Argosy Investors highlighted stocks like Torrid Holdings Inc. (NYSE:CURV) in the second quarter 2023 investor letter. Headquartered in City of Industry, California, Torrid Holdings Inc. (NYSE:CURV) is an e-Commerce platform for plus-size women’s apparel and intimates. On August 15, 2023, Torrid Holdings Inc. (NYSE:CURV) stock closed at $3.06 per share. One-month return of Torrid Holdings Inc. (NYSE:CURV) was 18.15%, and its shares lost 59.42% of their value over the last 52 weeks. Torrid Holdings Inc. (NYSE:CURV) has a market capitalization of $317.839 million.
Argosy Investors made the following comment about Torrid Holdings Inc. (NYSE:CURV) in its second quarter 2023 investor letter:
“During the quarter, I did mostly housekeeping, selling a couple of smaller positions in Torrid Holdings Inc. (NYSE:CURV) and Ollie’s Bargain Outlet. First, Torrid Holdings was never a large position, but it performed horribly during my ownership of the position. Body positivity, as it turns out, was not a positive development for Torrid. Long operating somewhat alone in the plus size women’s apparel (that women actually want to wear) category, COVID and the advent of stars such as musical artist Lizzo shined a light on women who did not fit the traditional definition of beauty. As a result, every retailer from Victoria’s Secret to Sephora has embraced body positivity, featuring plus size models in their marketing content and making clothes for larger people. Torrid lost its differentiated position in the market, and I believe has been struggling to remain relevant when plus size women have so many more options than they used to. In any event, this women’s fashion has never been something I considered myself an expert in, so perhaps I should be a little more cautious next time I venture into this quixotic realm.”
Torrid Holdings Inc. (NYSE:CURV) is not on our list of 30 Most Popular Stocks Among Hedge Funds As per our database, 4 hedge fund portfolios held Torrid Holdings Inc. (NYSE:CURV) at the end of first quarter 2023 which was 5 in the previous quarter.In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Top 20 Cities with the Worst Drivers in the US
- 25 Countries with Most Instagram Users in 2023
- 20 Universities Providing Best Robotics Courses in 2023
Disclosure: None. This article is originally published at Insider Monkey.
