Should You Hold Your Short Position in Landstar System (LSTR)?
Liberty Park Capital Management, LLC, a financial management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. Liberty Park Fund rose 7.45%, net of fees, in the first quarter compared to the Russell 2000 Index’s 2.74% return. The long position of the fund gained 6.02% while the short position fell 1.25% in the quarter. The long position contributed 6.16% and the short position contributed 1.08% on a weight-adjusted basis. Liberty Park Select Opportunities, LP’s value returned 0.57%, net of fees in the first quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Liberty Park Capital highlighted stocks like Landstar System, Inc. (NASDAQ:LSTR) in the first quarter 2023 investor letter. Headquartered in Jacksonville, Florida, Landstar System, Inc. (NASDAQ:LSTR) is an integrated transportation management solutions provider. On May 02, 2023, Landstar System, Inc. (NASDAQ:LSTR) stock closed at $177.73 per share. One-month return of Landstar System, Inc. (NASDAQ:LSTR) was 0.76%, and its shares gained 10.97% of their value over the last 52 weeks. Landstar System, Inc. (NASDAQ:LSTR) has a market capitalization of $6.414 billion.
Liberty Park Capital made the following comment about Landstar System, Inc. (NASDAQ:LSTR) in its Q1 2023 investor letter:
"We are pleased that Liberty Park Fund, LP has gotten off to a strong start in 2023. January was a particularly strong month for both of our funds, and LPF was able to use the market’s strength to install several new short positions; those positions greatly helped the portfolio in February and March as the market receded.
Landstar System, Inc. (NASDAQ:LSTR) rose in the quarter despite weaker-than-expected results. The freight transportation market had a promising start to the year, but we think the strength will be short lived."
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Landstar System, Inc. (NASDAQ:LSTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Landstar System, Inc. (NASDAQ:LSTR) at the end of the fourth quarter which was 25 in the previous quarter.
We discussed Landstar System, Inc. (NASDAQ:LSTR) in another article and shared the list of stocks to sell according to Motley Fool. In addition, please check out our hedge fund investor letters Q1 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.
