Aoris Investment Management, a specialist international equity manager, released its Q4 2024 investor letter. A copy of the letter can be downloaded here. In 2024, Portfolio’s Class A (Unhedged) returned 22.9% after fees compared to 29.8% return for the benchmark. The fund’s Class C (Hedged) returned -12.3% compared to a 19.7% return for the benchmark. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
In its fourth quarter 2024 investor letter, Aoris Investment Management emphasized stocks such as Costco Wholesale Corporation (NASDAQ:COST). Costco Wholesale Corporation (NASDAQ:COST) engages in the operation of membership warehouses. The one-month return of Costco Wholesale Corporation (NASDAQ:COST) was 13.64%, and its shares gained 48.05% of their value over the last 52 weeks. On February 14, 2025, Costco Wholesale Corporation (NASDAQ:COST) stock closed at $1,071.85 per share with a market capitalization of $475.79 billion.
Aoris Investment Management stated the following regarding Costco Wholesale Corporation (NASDAQ:COST) in its Q4 2024 investor letter:
“Firstly, I think we exercised good valuation discipline in our sales of Costco Wholesale Corporation (NASDAQ:COST) and Cintas. The share prices of these two companies had increased by more than 60% and 40% respectively in the year prior to our sale. It can be difficult as investors to remain objective and not ‘fall in love’ with an investment when it is performing well. A higher share price doesn’t make a business more valuable!
We sold both Costco and Cintas simply for reasons of valuation. These are exceptional businesses that we’d love to own again if valuation permits. Their sales allowed us to recycle portfolio capital into more attractively valued businesses.”
A customer in a warehouse aisles, browsing the wide range of branded and private-label products.
Costco Wholesale Corporation (NASDAQ:COST) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held Costco Wholesale Corporation (NASDAQ:COST) at the end of the third quarter which was 71 in the previous quarter. While we acknowledge the potential of Costco Wholesale Corporation (NASDAQ:COST) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article we discussed Costco Wholesale Corporation (NASDAQ:COST) and shared the list of stocks Jim Cramer recently discussed. In addition, please check out our hedge fund investor letters Q3 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.