White Brook Capital Partners, an investment management firm, released its first-quarter investor letter. The same can be downloaded here. In the first quarter, the fund underperformed and was down 2.33% compared to the Midcap 400 Index’s 3.81% and the S&P 500 Index’s 7.49% returns. In January and February, the portfolio performed well, however, it suffered banking sector declines later. In addition, please check the fund’s top five holdings to know its best picks in 2023.
White Brook Capital highlighted stocks like Green Plains Inc. (NASDAQ:GPRE) in the first quarter 2023 investor letter. Headquartered in Omaha, Nebraska, Green Plains Inc. (NASDAQ:GPRE) is a low-carbon fuels producer. On April 20, 2023, Green Plains Inc. (NASDAQ:GPRE) stock closed at $32.42 per share. One-month return of Green Plains Inc. (NASDAQ:GPRE) was 6.40%, and its shares gained 6.82% of their value over the last 52 weeks. Green Plains Inc. (NASDAQ:GPRE) has a market capitalization of $1.929 billion.
White Brook Capital made the following comment about Green Plains Inc. (NASDAQ:GPRE) in its Q1 2023 investor letter:
“During the quarter, we entered positions in Green Plains Inc. (NASDAQ:GPRE) and in ITV PLC (ITV LN). Green Plains is an ethanol producer undergoing company-specific change by enabling its plants to produce additional products (clean sugar and ultra-high proteins) with the same feedstock -increasing margins and the return on invested capital of the business. This is a common, but Green Plains is amongst the best capitalized to complete the transformation, has unique intellectual property, and is further along in the process than many in the industry. With over 50% of its plants converted to produce clean sugars, and an activist investor now involved, the stock price is unchanged from when I first became interested in Green Plains a year and a half ago.
Crucially, two things have occurred today since I began to consider Green Plains for investment.
1.The Company is further along in its plant transformation.
2.The outlook of the base business has improved…” (Click here to read the full text)
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Green Plains Inc. (NASDAQ:GPRE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Green Plains Inc. (NASDAQ:GPRE) at the end of the fourth quarter which was 21 in the previous quarter.
We discussed Green Plains Inc. (NASDAQ:GPRE) in another article and shared the list of best US chemical stocks to buy. In addition, please check out our hedge fund investor letters Q1 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.
