LVS Advisory, a New York City-based full-service investment firm, recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The defensive portfolio of the fund gained 2.5% (net of all fees and expenses) for the six months ended 2023 compared to a 5.1% gain for its benchmark High-Yield Bond Index. On the other hand, its Growth Portfolio gained 10.7% year to date compared to 16.9% for its benchmark, S&P 500 Total Return Index. For more information on the fund’s top picks in 2023, please check its top five holdings.
LVS Advisory highlighted stocks like Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the second quarter 2023 investor letter. Headquartered in Greenwich, Connecticut, Interactive Brokers Group, Inc. (NASDAQ:IBKR) provides an automated electronic brokerage platform. On July 18, 2023, Interactive Brokers Group, Inc. (NASDAQ:IBKR) stock closed at $86.27 per share. One-month return of Interactive Brokers Group, Inc. (NASDAQ:IBKR) was 8.01%, and its shares gained 52.31% of their value over the last 52 weeks. Interactive Brokers Group, Inc. (NASDAQ:IBKR) has a market capitalization of $35.957 billion.
LVS Advisory made the following comment about Interactive Brokers Group, Inc. (NASDAQ:IBKR) in its second quarter 2023 investor letter:
“We also modestly added to our position in Interactive Brokers Group, Inc. (NASDAQ:IBKR) in the mid-$70s. We initiated our Interactive Brokers position last summer and published a write-up in September 2022. Interactive Brokers continues to trade at a discounted multiple as investors are skeptical that the company will continue to sustain the current level of net interest income beyond the near future. However, recent reports showing strength in the US economy and labor market suggest that interest rates won’t be cut in the near term. The company publishes monthly KPI metrics and investors appear to be ignoring recent strength in trading volume and margin loans. The current market environment of rising stock prices and elevated interest rates is a goldilocks environment for the company. With this last buy, we have now reached our limit of investing 10% of our portfolio at cost in the stock and can no longer increase the holding size.”
Interactive Brokers Group, Inc. (NASDAQ:IBKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Interactive Brokers Group, Inc. (NASDAQ:IBKR) at the end of first quarter which was 42 in the previous quarter.
We discussed Interactive Brokers Group, Inc. (NASDAQ:IBKR) in another article and shared the list of crypto stocks to avoid during the SEC crackdown. In addition, please check out our hedge fund investor letters Q2 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.
