Investment management company Curreen Capital released its second quarter 2023 Investor letter. A copy of the same can be downloaded here. In the second quarter, the fund was up 1.45% compared to 8.74% for the S&P 500 Index. Cash accounted for 47% of the fund during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Curreen Capital highlighted stocks like Advantage Solutions Inc. (NASDAQ:ADV) in the second quarter 2023 investor letter. Headquartered in Irvine, California, Advantage Solutions Inc. (NASDAQ:ADV) provides outsourced solutions. On October 4, 2023, Advantage Solutions Inc. (NASDAQ:ADV) stock closed at $2.9 per share. One-month return of Advantage Solutions Inc. (NASDAQ:ADV) was 9.85%, and its shares gained 26.09% of their value over the last 52 weeks. Advantage Solutions Inc. (NASDAQ:ADV) has a market capitalization of $941.192 million.
Curreen Capital made the following comment about Advantage Solutions Inc. (NASDAQ:ADV) in its Q2 2023 investor letter:
“We added to our position in Advantage Solutions Inc. (NASDAQ:ADV) (3% of our fund), paying $1.55/share. This position and two others (Credit Acceptance and Frontdoor) have grown large enough to be noted in the appendix near the end of this letter.
Advantage Solutions warrants special attention, because the company came public as a SPAC, and this is the first SPAC that we have bought. SPACs are sometimes known as “blank-check” companies, and I tend to think of them as an unattractive place to look for investments. Over the past few years, many SPACs appeared, overpaid for questionable assets, and as a whole – lost money for investors who bought them.
This is usually not an attractive hunting ground for Curreen, but SPACs burned enough investors that at least one baby was thrown out with the bathwater…” (Click here to read the full text)
An executive in a suit and tie at a meeting discussing asset management strategies. Editorial photo for a financial news article. 8k. –ar 16:9
Advantage Solutions Inc. (NASDAQ:ADV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Advantage Solutions Inc. (NASDAQ:ADV) at the end of second quarter which was 20 in the previous quarter.
We discussed Advantage Solutions Inc. (NASDAQ:ADV) in another article and shared the list of best affordable stocks to buy under $5. In addition, please check out our hedge fund investor letters Q2 2023 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.
