Greenlight Capital, an investment management firm, released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the Greenlight Capital funds returned 4.9% net of fees and expenses, compared to 10.6% for the S&P 500 index. The year’s first quarter saw a bullish market, with investors focusing on AI, cryptocurrency, and meme stocks. Despite the market’s strong performance, the long and short portfolios didn’t fare as well. The long portfolio only saw a modest increase of 2.2%, net of fees and expenses, while the single-name short portfolio broke even. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Greenlight Capital featured stocks like New York Community Bancorp, Inc. (NYSE:NYCB) in the first quarter 2024 investor letter. Headquartered in Hicksville, New York, New York Community Bancorp, Inc. (NYSE:NYCB) is a bank holding company. On May 7, 2024, New York Community Bancorp, Inc. (NYSE:NYCB) stock closed at $3.6700 per share. One-month return of New York Community Bancorp, Inc. (NYSE:NYCB) was 23.99%, and its shares lost 62.97% of their value over the last 52 weeks. New York Community Bancorp, Inc. (NYSE:NYCB) has a market capitalization of $2.952 billion.
Greenlight Capital stated the following regarding New York Community Bancorp, Inc. (NYSE:NYCB) in its first quarter 2024 investor letter:
“In addition to the unsuccessful short referenced above, we closed several other positions. New York Community Bancorp, Inc. (NYSE:NYCB) announced disastrous results in January. Fortunately, we decided to sell immediately and ask questions later. As a result, we escaped with an immaterial loss.”
A busy street corner with an ATM located conveniently in the corner, emphasizing the ATM locations.
New York Community Bancorp, Inc. (NYSE:NYCB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held New York Community Bancorp, Inc. (NYSE:NYCB) at the end of the fourth quarter which was 35 in the previous quarter.
Greenlight Capital added a small portion of New York Community Bancorp, Inc. (NYSE:NYCB) to its portfolio in 2023, shared its faith in the company in its Q1 2023 investor letter. In addition, please check out our hedge fund investor letters Q1 2024 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.