Liberty Park Capital Management, LLC, a financial management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 7.45%, net of fees, in the first quarter compared to the Russell 2000 Index’s 2.74% return. The long position of the fund gained 6.02% while the short position fell 1.25% in the quarter. The long position contributed 6.16% and the short position contributed 1.08% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 0.57%, net of fees in the first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Liberty Park Capital highlighted stocks like H&E Equipment Services, Inc. (NASDAQ:HEES) in the first quarter 2023 investor letter. Headquartered in Baton Rouge, Louisiana, H&E Equipment Services, Inc. (NASDAQ:HEES) is an equipment services company. On May 02, 2023, H&E Equipment Services, Inc. (NASDAQ:HEES) stock closed at $35.13 per share. One-month return of H&E Equipment Services, Inc. (NASDAQ:HEES) was -11.62%, and its shares lost 8.40% of their value over the last 52 weeks. H&E Equipment Services, Inc. (NASDAQ:HEES) has a market capitalization of $1.278 billion.
Liberty Park Capital made the following comment about H&E Equipment Services, Inc. (NASDAQ:HEES) in its Q1 2023 investor letter:
“We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.
H&E Equipment Services, Inc. (NASDAQ:HEES) shares fell late in the quarter despite better-than-expected 4Q:22 results. We believe that cyclicals are likely to underperform in a period with tightening credit markets and normalizing supply chains.”
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H&E Equipment Services, Inc. (NASDAQ:HEES) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held H&E Equipment Services, Inc. (NASDAQ:HEES) at the end of the fourth quarter which was 15 in the previous quarter.
We discussed H&E Equipment Services, Inc. (NASDAQ:HEES) in another article and shared the list of aggressive stocks picked by hedge funds. 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.
