Investment management company Ave Maria recently released its “Ave Maria Focused Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned 9.86% compared to the S&P MidCap 400 Growth Index’s 8.74% return. Year-to-date the fund returned 23.96% compared to the 10.46% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.
Ave Maria Focused Fund highlighted stocks like APi Group Corporation (NYSE:APG) in the second quarter 2023 investor letter. Headquartered in New Brighton, Minnesota, APi Group Corporation (NYSE:APG) is a safety, specialty, and industrial services provider. On September 19, 2023, APi Group Corporation (NYSE:APG) stock closed at $26.28 per share. One-month return of APi Group Corporation (NYSE:APG) was -5.50%, and its shares gained 77.93% of their value over the last 52 weeks. APi Group Corporation (NYSE:APG) has a market capitalization of $6.196 billion.
Ave Maria Focused Fund made the following comment about APi Group Corporation (NYSE:APG) in its Q2 2023 investor letter:
“APi Group Corporation (NYSE:APG), the second largest position, was up 44.9% YTD. It is just over one year since APi Group completed its largest acquisition, Chubb Ltd. The integration is going well, and if management can hit their fiscal year 2025 revenue and margin targets, today’s price should prove to be a bargain.”
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APi Group Corporation (NYSE:APG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held APi Group Corporation (NYSE:APG) at the end of second quarter which was 41 in the previous quarter.
We discussed APi Group Corporation (NYSE:APG) in another article and shared Greenhaven Road Capital’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.