Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.47% compared to an 8.42% return for the Russell 2000 Value Index. The fund delivered a -9.16% return in 2022 compared to a -14.48% return for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
FPA Queens Road Small Cap Value Fund highlighted stocks like InterDigital, Inc. (NASDAQ:IDCC) in its Q4 2022 investor letter. Headquartered in Wilmington, Delaware, InterDigital, Inc. (NASDAQ:IDCC) is a technology company that assists in wireless communications. On February 8, 2023, InterDigital, Inc. (NASDAQ:IDCC) stock closed at $72.82 per share. One-month return of InterDigital, Inc. (NASDAQ:IDCC) was 23.01%, and its shares gained 10.33% of their value over the last 52 weeks. InterDigital, Inc. (NASDAQ:IDCC) has a market capitalization of $2.16 billion.
FPA Queens Road Small Cap Value Fund made the following comment about InterDigital, Inc. (NASDAQ:IDCC) in its Q4 2022 investor letter:
“InterDigital, Inc. (NASDAQ:IDCC) is a research and development organization that develops and acquires wireless and video patents across key technologies. The company has a history of strong financial performance, opportunistically buys back shares and pays a modest dividend. Shares were down in 2022 with the declining expectations for smartphone volumes and chip demand.”
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InterDigital, Inc. (NASDAQ:IDCC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held InterDigital, Inc. (NASDAQ:IDCC) at the end of the third quarter, which was 12 in the previous quarter.
We discussed InterDigital, Inc. (NASDAQ:IDCC) in another article and shared First Pacific Advisors’ views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.