Bernzott Capital Advisors, an investment management firm, published its “US Small Cap Value Fund” fourth-quarter 2022 investor letter, a copy of which can be downloaded here. In the fourth quarter, the fund delivered a 10.36% net return compared to an 8.42% return for the Russell 2000 Value Index and a 9.21% return for the Russell 2500 Value Index. Health Care was the significant contributor to the fund’s performance in the quarter, while Materials detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Bernzott Capital Advisors highlighted stocks like SP Plus Corporation (NASDAQ:SP) in the Q4 2022 investor letter. Based in Chicago, Illinois, SP Plus Corporation (NASDAQ:SP) is a parking services company that provides on-site parking management, valet parking, ground transportation, facility maintenance, event logistics, remote airline check-in, security, municipal meter revenue collection and enforcement and consulting services, as well as shuttle bus vehicles and drivers and baggage services. On January 23, 2023, SP Plus Corporation (NASDAQ:SP) stock closed at $35.57 per share. One-month return of SP Plus Corporation (NASDAQ:SP) was 3.49%, and its shares gained 28.13% of their value over the last 52 weeks. SP Plus Corporation (NASDAQ:SP) has a market capitalization of $717.347 billion.
Bernzott Capital Advisors made the following comment about SP Plus Corporation (NASDAQ:SP) in its Q4 2022 investor letter:
“SP Plus Corporation (NASDAQ:SP): The company has achieved a strong profit recovery in its commercial parking and aviation services businesses. New business wins and share gains are being driven by its “Sphere” technology solutions which enable capabilities such as contactless payment and gateless parking, and digital inventory and remote site management. Its debt position has been managed to comfortable levels following the spike due to the 2019 debt-financed Bags acquisition and that deal’s unfortunate timing right before the pandemic shutdown. The company has now re-engaged with modest share buyback and M&A programs.”
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SP Plus Corporation (NASDAQ:SP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held SP Plus Corporation (NASDAQ:SP) at the end of the third quarter which was 15 in the previous quarter.
We discussed SP Plus Corporation (NASDAQ:SP) in another article and shared Bernzott Capital Advisors’ views on the company. 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.
