Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund’s Institutional Class returned -0.57% compared to a -3.25% return for the Russell 3000 Index. The Fund’s Institutional Class has returned +10.70% year-to-date compared to a +12.39% return for the benchmark. Following double-digit gains in the first half of 2023, bonds and stocks both cooled down in the third quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Weitz Investment Partners III Opportunity Fund highlighted stocks like Qurate Retail, Inc. (NASDAQ:QRTEA) in the third quarter 2023 investor letter. Headquartered in Englewood, Colorado, Qurate Retail, Inc. (NASDAQ:QRTEA) is involved in the video and online commerce industries. On December 11, 2023, Qurate Retail, Inc. (NASDAQ:QRTEA) stock closed at $0.8938 per share. One-month return of Qurate Retail, Inc. (NASDAQ:QRTEA) was 40.89%, and its shares lost 57.64% of their value over the last three months. Qurate Retail, Inc. (NASDAQ:QRTEA) has a market capitalization of $393.349 million.
Weitz Investment Partners III Opportunity Fund made the following comment about Qurate Retail, Inc. (NASDAQ:QRTEA) in its third 2023 investor letter:
“Qurate Retail, Inc. (NASDAQ:QRTEA) continues to make full dividend payments on our preferred shares, but tangible signs of operating improvement remain elusive. In the coming quarters, management’s “Project Athens” plan (a multi-year turnaround plan designed to stabilize Qurate’s core business and expand its leadership in video streaming commerce) is projected to deliver cost savings and margin expansion opportunities that we will evaluate closely.”
A close-up of a customer using the company’s e-commerce platform whilst shopping online.
Qurate Retail, Inc. (NASDAQ:QRTEA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Qurate Retail, Inc. (NASDAQ:QRTEA) at the end of third quarter which was 25 in the previous quarter.
We discussed Qurate Retail, Inc. (NASDAQ:QRTEA) in another article and shared the list of best penny stocks to buy for 2024. In addition, please check out our hedge fund investor letters Q3 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.
