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 MP Materials Corp. (NYSE:MP) in the Q4 2022 investor letter. Headquartered in Las Vegas, Nevada, MP Materials Corp. (NYSE:MP) operates mining and processing facilities. On January 20, 2023, MP Materials Corp. (NYSE:MP) stock closed at $30.21 per share. One-month return of MP Materials Corp. (NYSE:MP) was 20.74%, and its shares lost 24.64% of their value over the last 52 weeks. MP Materials Corp. (NYSE:MP) has a market capitalization of $5.364 billion.
Bernzott Capital Advisors made the following comment about MP Materials Corp. (NYSE:MP) in its Q4 2022 investor letter:
“MP Materials Corp. (NYSE:MP): Despite another quarter in which this rare earth materials company beat quarterly top and bottom-line expectations, the stock underperformed. Negative headlines surrounding near term electric vehicle demand and fears surrounding Covid-19 and China likely led to the underperformance. With a fortress balance sheet, an irreplaceable asset base and strong FCF generation, we believe this company can navigate these short-term headwinds and continue its focus on becoming the only supplier of magnets in the United States.”
MP Materials Corp. (NYSE:MP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held MP Materials Corp. (NYSE:MP) at the end of the third quarter which was 26 in the previous quarter.
We discussed MP Materials Corp. (NYSE:MP) in another article and shared 5 stocks that Chamath Palihapitiya picked in the last 10 years. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
- 12 Biggest Cloud Providers by Market Share
- 11 Best Performing S&P 500 Stocks in 10 Years
- 12 Hot Penny Stocks On the Move
Disclosure: None. This article is originally published at Insider Monkey.