Long Cast Advisers, LLC, an independent registered investment adviser, investing on behalf of individuals, family offices, and endowments, published its third quarter 2022 investor letter – a copy of which can be downloaded here. For the 3Q22 quarter (ended Sept 30, 2022), cumulative net returns increased by 14%. YTD returns are down 16%. Since inception in November 2015 through quarter end 3Q22, LCA has returned a cumulative 130% net of fees, or 13% CAGR. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, Long Cast Advisers mentioned CoreCard Corporation (NYSE:CCRD) and explained its insights for the company. Founded in 1973, CoreCard Corporation (NYSE:CCRD) is a Norcross, Georgia-based card management and transaction processing systems issuer-processor and provider with a $189.1 million market capitalization. CoreCard Corporation (NYSE:CCRD) delivered a -43.09% return since the beginning of the year, while its 12-month returns are down by -45.86%. The stock closed at $22.08 per share on October 12, 2022.
Here is what Long Cast Advisers has to say about CoreCard Corporation (NYSE:CCRD) in its Q3 2022 investor letter:
“We don’t own shares in CoreCard (NYSE:CCRD, something I think belongs in every small cap investors’ portfolio) because they process payments for the ParkMobile app, but I do enjoy using the app knowing that ~$0.04 of every transaction generates revenue for one of our holdings. When my wife broke her arm, I’m certain it wasn’t so a surgeon would install a plate using a Depuy/Synthes torque limiting driver made by PDEX, but knowing that’s what he used is pretty neat, IMHO.”
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Our calculations show that CoreCard Corporation (NYSE:CCRD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. CoreCard Corporation (NYSE:CCRD) was in 9 hedge fund portfolios at the end of the second quarter of 2022, compared to 9 funds in the previous quarter. CoreCard Corporation (NYSE:CCRD) delivered a -2.86% return in the past 3 months.
In August 2022, we also shared another hedge fund’s views on CoreCard Corporation (NYSE:CCRD) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.
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Disclosure: None. This article is originally published at Insider Monkey.
