180 Degree reports +5.7% gross total return in public, related portfolio in Q1

180 Degree Capital reported preliminary results of its public and related portfolio as of March 31, 2023. "We are pleased to report a +5.7% gross total return in our public and related portfolio for the first quarter of 2023," said Kevin M. Rendino, Chief Executive Officer of 180. "This performance compares favorably to the -2.9% total return of the Russell Microcap Index. Following 2022, a year of significant damage to perceived risk assets and where business fundamentals took a back seat to overwhelming fears of recession, we began to see a turn of sentiment during the first quarter of 2023. Our permanent capital allowed us to add to positions in Q4 2022 that we believed were undervalued, and these additions, in part, contributed to our outperformance versus the benchmark during the quarter. While it remains early in 2023, and risks abound, we are encouraged with our performance during Q1 2023. With the restructuring of our business largely behind us, changes in 180’s NAV will be substantially driven by, and reflective of, our public market stock picking, rather than our historically opaque legacy private holdings."