Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Value Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy posted a double-digit gain in the fourth quarter but trailed the benchmark Russell Microcap Index which rose 16.06%. In 2023, the strategy appreciated and outperformed the benchmark’s 9.33% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Wasatch Micro Cap Value Strategy featured stocks like Perella Weinberg Partners (NASDAQ:PWP) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, Perella Weinberg Partners (NASDAQ:PWP) is an independent investment banking company. On March 12, 2024, Perella Weinberg Partners (NASDAQ:PWP) stock closed at $13.18 per share. One-month return of Perella Weinberg Partners (NASDAQ:PWP) was 4.11%, and its shares gained 43.57% of their value over the last 52 weeks. Perella Weinberg Partners (NASDAQ:PWP) has a market capitalization of $1.225 billion.

Wasatch Micro Cap Value Strategy stated the following regarding Perella Weinberg Partners (NASDAQ:PWP) in its fourth quarter 2023 investor letter:

"Among our recent buys, we added Perella Weinberg Partners (NASDAQ:PWP), an investment-banking firm that focuses on mergers and acquisitions (M&A), corporate restructurings and shareholder engagement. With recent turmoil in the investment-banking industry, the firm was able to hire some displaced executives from Silicon Valley Bank and Credit Suisse Group. Another positive development is that the parties involved in investment-banking transactions now have more reasonable expectations, so M&A and restructuring activity is ramping up after two years of declines. We think Perella Weinberg is well-positioned to take market share because its bankers are very experienced and have extensive relationships. Moreover, the firm has an inexpensive stock, high insider ownership, a healthy balance sheet and significant potential for earnings growth."

An executive in front of a high rise financial building, showcasing the global reach of the company's capital markets.

Perella Weinberg Partners (NASDAQ:PWP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Perella Weinberg Partners (NASDAQ:PWP) was held by 18 hedge fund portfolios, compared to 14 in the previous quarter, according to our database. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.