Investment management company First Pacific Advisors recently released its “FPA Queens Road Small Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -2.25% compared to a -2.96% return for the Russell 2000 Value Index. The Fund returned 2.57% YTD compared to -0.53% for the index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
FPA Queens Road Small Cap Value Fund highlighted stocks like InterDigital, Inc. (NASDAQ:IDCC) in the third quarter 2023 investor letter. Headquartered in Wilmington, Delaware, InterDigital, Inc. (NASDAQ:IDCC) researches and develops technologies that enable and enhance wireless communications. On November 20, 2023, InterDigital, Inc. (NASDAQ:IDCC) stock closed at $98.98 per share. One-month return of InterDigital, Inc. (NASDAQ:IDCC) was 26.30%, and its shares gained 100.69% of their value over the last 52 weeks. InterDigital, Inc. (NASDAQ:IDCC) has a market capitalization of $2.544 billion.
FPA Queens Road Small Cap Value Fund made the following comment about InterDigital, Inc. (NASDAQ:IDCC) in its Q3 2023 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 jumped earlier this year when InterDigital announced licensing renewals with Samsung, LG, and Panasonic and then reported strong fourth quarter 2022 results.”
A close up of a computer server rack powering the backbone of a wireless infrastructure.
InterDigital, Inc. (NASDAQ:IDCC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held InterDigital, Inc. (NASDAQ:IDCC) at the end of second quarter which was 22 in the previous quarter.
We discussed InterDigital, Inc. (NASDAQ:IDCC) in another article and shared the list of tech stocks with low PE ratios. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 30 Countries With The Best Street Food In The World
- 20 Best Smelling Perfumes for Women that Men Love
- 15 Most Technologically Advanced Countries in Africa
Disclosure: None. This article is originally published at Insider Monkey.