Immersion Investment Partners, an investment management company, released its third quarter 2023 investor letter. A copy of the same can be downloaded here. The fund fell 8.62% in the third quarter compared to the 5.12% decline for the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Immersion Investment Partners highlighted stocks like Celsius Holdings, Inc. (NASDAQ:CELH) in the third quarter 2023 investor letter. Headquartered in Boca Raton, Florida, Celsius Holdings, Inc. (NASDAQ:CELH) is a functional drink and liquid supplements manufacturer and distributor. On November 24, 2023, Celsius Holdings, Inc. (NASDAQ:CELH) stock closed at $53.56 per share. One-month return of Celsius Holdings, Inc. (NASDAQ:CELH) was -0.22%, and its shares gained 49.03% of their value over the last 52 weeks. Celsius Holdings, Inc. (NASDAQ:CELH) has a market capitalization of $12.409 billion.
Immersion Investment Partners made the following comment about Celsius Holdings, Inc. (NASDAQ:CELH) in its Q3 2023 investor letter:
“Celsius Holdings, Inc. (NASDAQ:CELH) – Doubted Champion) is the owner of the Celsius brand of energy drinks. Celsius has been a day 1 holding of the partnership and through organic appreciation, coupled with our significant reduction of Basic-Fit shares at the beginning of the third quarter (discussed in the second quarter letter), has grown to become the number 2 position over the last six months. Despite a tremendous runup in shares over the past several years, we think Celsius remains underappreciated and undervalued.
-
Based on latest scanner data, Celsius holds a roughly 6% share of the U.S. energy market over the last twelve months, making it #3 behind Monster and Red Bull. We believe Celsius can continue to grow and become a significantly larger business for several key reasons… a. Celsius holds a 20%+ share on Amazon and major Florida markets (Miami, Orlando, and Tampa), its most mature markets, and nearly 20% share in New York and Boston. These analogues provide solid evidence that Celsius is capable of being significantly larger than it is today…” (Click here to read the full text)
A shelf filled with a variety of bottles of energy drinks, juices, and sodas in a convenience store.
Celsius Holdings, Inc. (NASDAQ:CELH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Celsius Holdings, Inc. (NASDAQ:CELH) at the end of third quarter which was 41 in the previous quarter.
We discussed Celsius Holdings, Inc. (NASDAQ:CELH) in another article and shared Alger Mid Cap Focus Fund’s views on the company. 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:
- 11 Best Cheap Stocks To Buy For Long Term
- 25 Best US Cities Where You Can Retire on $2500 a Month
- 11 Best LNG and LNG Shipping Stocks To Buy Now
Disclosure: None. This article is originally published at Insider Monkey.
