NVR (NVR) Performed Well Despite the Odds
Smead Capital Management, an investment management company, released its “Smead Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund delivered -0.02% compared to a 7.50% gain for the S&P 500 Index and a 1.01% rise for the Russell 1000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Smead Value Fund highlighted stocks like NVR, Inc. (NYSE:NVR) in the first quarter 2023 investor letter. Headquartered in Reston, Virginia, NVR, Inc. (NYSE:NVR) is a home builder. On July 3, 2023, NVR, Inc. (NYSE:NVR) stock closed at $6,286.48 per share. One-month return of NVR, Inc. (NYSE:NVR) was 8.49%, and its shares gained 43.89% of their value over the last 52 weeks. NVR, Inc. (NYSE:NVR) has a market capitalization of $20.412 billion.
Smead Value Fund made the following comment about NVR, Inc. (NYSE:NVR) in its first quarter 2023 investor letter:
"Our best-performing stocks in the quarter were Warner Discovery (WBD), NVR, Inc. (NYSE:NVR) and Lennar (LEN). Warner was our worst performer in Q4 2022 and bounced back from tax selling. The home builders fooled everyone by growing their market share and making good money in the violent Fed tightening of 2022-2023."
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NVR, Inc. (NYSE:NVR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held NVR, Inc. (NYSE:NVR) at the end of first quarter 2023 which was 39 in the previous quarter.
We discussed NVR, Inc. (NYSE:NVR) in another article and shared the list of best low float stocks to buy. 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.
