Longleaf Partners, managed by Southeastern Asset Management, released the Investor Letter for the first quarter of 2024 for its Partners Fund. A copy of the letter can be downloaded here. The fund's first quarter return was 6.60%, compared to 10.56% for the S&P and 8.99% for the Russell 1000 Value. Strong performance across the portfolio led to significant replenishment in a quarter where value investing faced challenges compared to growth strategies. Plus, check out the fund's top 5 holdings to find out the best stocks for 2024.
Longleaf Partners Fund highlighted stocks such as Fairfax Financial Holdings Limited (OTC:FRFHF) in its Q1 2024 investor letter. Fairfax Financial Holdings Limited (OTC:FRFHF) provides property and casualty insurance, reinsurance, and investment management services with a market capitalization of $26.62 billion. Fairfax Financial Holdings Limited (OTC: FRFHF)’s 1-month return is his 5.21%, and the company’s stock has increased 59.52% of its value over the past 52 weeks. On May 20, 2024, Fairfax Financial Holdings Limited (OTC:FRFHF) stock closed at $1,138.94 per share.
Longleaf Partners Fund said the following about Fairfax Financial Holdings Limited (OTC:FRFHF) in its Q1 2024 investor letter:
“We exited two holdings while cutting some high performers. We sold positions. fairfax financial holdings Limited (OTC:FRFHF) and Fortune Brands. We have owned Fairfax multiple times for the better part of the past 25 years and have high praise for the management team led by Prem Watsa. However, the stock price outperformed our value this quarter, so it was time to move on. ”
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Fairfax Financial Holdings Limited (OTC:FRFHF) had revenues of $31.89 billion over the trailing twelve months, and the company's quarterly revenue growth rate from the previous year was 0.60%. Fairfax Financial Holdings Limited (OTC:FRFHF) was the 2023 Longleaf Partners Fund's top performer.
Fairfax Financial Holdings Limited (OTC:FRFHF) isn't on our list of 30 most popular stocks among hedge funds. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q1 2024 page.
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Disclosure: None.This article was first published Insider Monkey.
