Headwaters Capital Management, an investment management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund declined -7.6% (-7.8% net) in the third quarter compared to a -4.7% return for the Russell Mid Cap Index. The YTD results stand at +14.2% (+13.5% net) compared to a +3.9% return for the index. The firm remains optimistic about the prospects of the companies in its portfolio. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Headwaters Capital Management highlighted stocks like Qualys, Inc. (NASDAQ:QLYS) in the third quarter 2023 investor letter. Headquartered in Foster City, California, Qualys, Inc. (NASDAQ:QLYS) is a cloud-based information technology (IT), security, and compliance solutions provider. On November 14, 2023, Qualys, Inc. (NASDAQ:QLYS) stock closed at $176.55 per share. One-month return of Qualys, Inc. (NASDAQ:QLYS) was 8.14%, and its shares gained 40.14% of their value over the last 52 weeks. Qualys, Inc. (NASDAQ:QLYS) has a market capitalization of $6.494 billion.
Headwaters Capital Management made the following comment about Qualys, Inc. (NASDAQ:QLYS) in its Q3 2023 investor letter:
“Top Contributor: Qualys, Inc. (NASDAQ:QLYS) +18%: Qualys reported better than feared Q2 results as bookings were ahead of forecast. Despite broad IT budget pressure, cyber-security spend continues to be a priority for companies as global cyberattacks continue to proliferate. Additionally, M&A in the software space has provided valuation support for QLYS given the company’s strong free cash flow profile and net cash position.”
A close up of a hand typing in commands into a keyboard connected to a large data center.
Qualys, Inc. (NASDAQ:QLYS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held Qualys, Inc. (NASDAQ:QLYS) at the end of second quarter which was 23 in the previous quarter.
We discussed Qualys, Inc. (NASDAQ:QLYS) in another article and shared the list of best performing cybersecurity stocks in 2023. In addition, please check out our hedge fund investor letters Q3 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.