Should You Sell TCV Acquisition Corp. (TCVA)?

Upslope Capital Management, an investment management firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. 2022 was a rewarding year for the firm, and the fund returned 6.5% net in 2022, compared to -13.3% return for the S&P Midcap 400 ETF (MDY) and -3.2% return for the HFRX Equity Hedge Index. In the fourth quarter, the fund returned 11.2% compared to a 10.7% return for the S&P Midcap 400 ETF (MDY) and a 1.7% return for the HFRX Equity Hedge Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Upslope Capital Management highlighted stocks like TCV Acquisition Corp. (NASDAQ:TCVA) in the Q4 2022 investor letter. Based in Menlo Park, California, TCV Acquisition Corp. (NASDAQ:TCVA) intends to effect business combinations with one or more businesses or entities. On January 23, 2023, TCV Acquisition Corp. (NASDAQ:TCVA) stock closed at $10.06 per share. One-month return of TCV Acquisition Corp. (NASDAQ:TCVA) was 0.57%, and its shares gained 4.25% of their value over the last 52 weeks. TCV Acquisition Corp. (NASDAQ:TCVA) has a market capitalization of $514.066 million.

Upslope Capital Management made the following comment about TCV Acquisition Corp. (NASDAQ:TCVA) in its Q4 2022 investor letter:

“TCV Acquisition Corp. (NASDAQ:TCVA) is a pre-transaction SPAC, sponsored by the venture capital firm Technology Crossover Ventures. While I added it in 2021 as a “free” call option (and a loose hedge for SPAC+ shorts), I exited this quarter due to: (a) losing realistic hope for completion of a successful acquisition, and (b) the position becoming a (mild) distraction.”

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TCV Acquisition Corp. (NASDAQ:TCVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. We discussed TCV Acquisition Corp. (NASDAQ:TCVA) in another article and shared stocks to sell according to billionaire David Tepper. 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.