10 Best Performing Warren Buffett Stocks in 2024

8. Liberty Latin America Ltd. (NASDAQ:LILA)

Warren Buffett’s Q2 2024 Stake: $25.28 Million

Year to Date Gain as of September 20: 32.28%

Number of Hedge Fund Investors In Q2 2024: 23

Liberty Latin America Ltd. (NASDAQ:LILA) is a communications services company that provides fixed, mobile, and subsea telecommunications services. It emerged as one of the best-performing Warren Buffet stocks in 2024, with a 32.28% gain.

The rally has come on the company’s core business growing at an impressive rate, delivering solid financial results. While revenue in the second quarter remained unchanged at $1.11 million, the company recorded an adjusted OIBDA for the second quarter of $389.1 million.

Liberty Latin America Ltd. (NASDAQ:LILA) experienced notable growth in its customer base, securing an additional 62,000 new clients over the first half of the year, excluding Puerto Rico. Despite facing challenges in Puerto Rico, the company is poised to continue its upward momentum through strategic acquisitions with millions and investments in fiber and 5G technologies.

Liberty Latin America Ltd. (NASDAQ:LILA) has also announced its intention to repurchase shares and anticipates a profit increase across its operations in the next year. The company has been involved in major acquisitions and mergers, including Tigor in Costa Rica and DISH in Puerto Rico. These strategies are crucial for Liberty Latin America’s goal of enhancing landline and mobile services and returning to financial health.

It remains one of the top stock picks in Buffett’s portfolio owing to its record in returning value to shareholders. In the year’s first half, it returned $300 million through buybacks.

By the close of Q2 this year, 23 out of the 912 hedge funds tracked by Insider Monkey had invested in Liberty Latin America Ltd. (NASDAQ:LILA). The largest stake, valued at $44.60 million, was held by Mark G. Schoeppner’s Quaker Capital Investments.

Here is what Bonhoeffer Capital Management said about Liberty Latin America Ltd. (NASDAQ:LILA) in its Q3 2023 investor letter:

“Contrast that to Liberty Latin America Ltd. (NASDAQ:LILA), which for much of the past 7.25 years (since the spin-off) has had an undervalued (four or five star) rating. The value growth (-11%/year growth over the past 7.25 years) has driven this stock’s return (-14%/year over the past 7.25 years), as the market increasingly discounted this stock for negative growth-a classic value trap. The future value of Liberty Latin America is driven by the ability to increase its intrinsic value over time with the changes in valuation playing a secondary role.”