Leaven Partners, an investment management company, recently released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 10% in the quarter compared to a 10.5% return for the S&P 500 (SPXTR) and a 5.9% for the MSCI EAFE (EFA). The fund is up 25.6% for the three years compared to the three-year S&P 500 return of 38.5%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Leaven Partners featured stocks like Laird Superfood, Inc. (AMEX:LSF) in the Q1 2024 investor letter. Headquartered in Boulder, Colorado, Laird Superfood, Inc. (AMEX:LSF) manufactures and markets plant-based natural and functional food. On April 15, 2024, Laird Superfood, Inc. (AMEX:LSF) stock closed at $2.19 per share. One-month return of Laird Superfood, Inc. (AMEX:LSF) was -6.01%, and its shares gained 128.11% of their value over the last 52 weeks. Laird Superfood, Inc. (AMEX:LSF) has a market capitalization of $20.977 million.
Leaven Partners stated the following regarding Laird Superfood, Inc. (AMEX:LSF) in its first quarter 2024 investor letter:
“Our largest positive contributor to overall fund performance in the quarter came from one of our few American holdings, Laird Superfood Inc. Based in Sisters, Oregon, the eponymous Laird Superfood, Inc. (AMEX:LSF) was launched in 2015 by the big wave surfer, Laird Hamilton. The company started off producing and selling plant-based creamers for coffee and tea but has since expanded into other areas, such as snack foods and enhanced beverage probiotics and supplements. Taking advantage of the public markets’ appetite for plant-based health foods and following in the lucrative footsteps of similarly positioned companies, like Beyond Meat, Laird Superfood, in September 2020, went public on the NYSE raising an impressive $63 million for the company coffers with a market valuation of $265 million. Before the end of 2020, the company would trade even higher on the back of the surging interest of hot IPOs, but as popular interest in these products waned and the IPO market cooled, the market value of LSF began its perpetual decline for the next 18 months until it caught my attention in June 2022.
By June 2022, the market valuation of Laird Superfood (LSF) had declined impressively resulting in a new valuation below $20 million—which also somehow accounted for their $12 million purchase, (in cash and stock), of Picky Bars, in 2021. Launched in 2010, Picky Bars, specializing in clean-label products, is a provider of energy bars and nutritionally enhanced oatmeal and granola…” (Click here to read the full text)
A chef in a professional kitchen demonstrating ways to use the company’s products to cook healthy and functional food.
Laird Superfood, Inc. (AMEX:LSF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Laird Superfood, Inc. (AMEX:LSF) was held by 2 hedge fund portfolios, compared to 2 in the previous quarter, according to our database. 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.
