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Nordstern Capital, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. The firm believes that a long-term mindset and short-term cash flows will help to sustain in the current environment of risk and potential black swans. You can check the top 5 holdings of the fund to know its best picks in 2023.
Nordstern Capital highlighted stocks like StoneCo Ltd. (NASDAQ:STNE) in the first quarter 2023 investor letter. Headquartered in George Town, the Cayman Islands, StoneCo Ltd. (NASDAQ:STNE) provides financial technology and software solutions. On June 8, 2023, StoneCo Ltd. (NASDAQ:STNE) stock closed at $12.78 per share. One-month return of StoneCo Ltd. (NASDAQ:STNE) was -7.46%, and its shares gained 40.90% of their value over the last 52 weeks. StoneCo Ltd. (NASDAQ:STNE) has a market capitalization of $3.999 billion.
Nordstern Capital made the following comment about StoneCo Ltd. (NASDAQ:STNE) in its Q1 2023 investor letter:
“StoneCo Ltd. (NASDAQ:STNE): (STNE, share price increased + 1% in 1Q 2023)
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StoneCo Ltd. (NASDAQ:STNE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held StoneCo Ltd. (NASDAQ:STNE) at the end of first quarter 2023 which was 35 in the previous quarter.
We discussed StoneCo Ltd. (NASDAQ:STNE) in another article and shared the list of best low-priced technology stocks to invest in. 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.