East 72, an investment management company, recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The quarterly gross return of the portfolio was 13.3% and short-term trades in S&P500 derivatives, Perpetual, and Tyro Payments led to a strong return. You can check the top 5 holdings of the fund to know its best picks in 2022.
East 72 highlighted stocks like Madison Square Garden Sports Corp. (NYSE:MSGS) in its Q4 2022 investor letter. Headquartered in New York, New York, Madison Square Garden Sports Corp. (NYSE:MSGS) is a sports company. On January 5, 2023, Madison Square Garden Sports Corp. (NYSE:MSGS) stock closed at $184.00 per share. One-month return of Madison Square Garden Sports Corp. (NYSE:MSGS) was 14.90%, and its shares gained 9.25% of their value over the last 52 weeks. Madison Square Garden Sports Corp. (NYSE:MSGS) has a market capitalization of $4.477 billion.
East 72 made the following comment about Madison Square Garden Sports Corp. (NYSE:MSGS) in its Q4 2022 investor letter:
“Since we wrote about Madison Square Garden Sports Corp. (NYSE:MSGS) and Manchester United PLC (MANU) in QR#25, the world of sports teams business has been busy:
The Phoenix Suns basketball team is being sold for a price of $4billion, which compares to the prior “Forbes” valuation of only $1.8billion. This is the largest premium over the prior “Forbes” value since Steve Ballmer bought LA Clippers for $2billion against its prior valuation of $550million in 2014; (the “Forbes” valuation of New York Knicks is $5.8billion – no stadium)
The Washington “Commanders” NFL team, is under a sale process with bids apparently “over $7billion” including surplus land; the last “Forbes” valuation excluding the land but including FedEx Field is $5.6billion; $7billion would be $2.5billion over the highest ever price paid for a US sports team, being the Denver Broncos earlier in 2022;…”( Click here to read the full text)
Madison Square Garden Sports Corp. (NYSE:MSGS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held Madison Square Garden Sports Corp. (NYSE:MSGS) at the end of the third quarter which was 33 in the previous quarter.
We discussed Madison Square Garden Sports Corp. (NYSE:MSGS) in another article and shared the list of stocks in Bill Gates’ stock portfolio. 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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