GreensKeeper Asset Management, an investment management company, released its third quarter investor letter. A copy of the letter can be downloaded here. The Value Fund appreciated +4.7% (net) in the third quarter, +16.7% year to date and +24.4% over the past twelve months, however, the US dollar lowered returns by about -1.1% in Q3. The broader markets are clearly in positive territory for the year after a successful quarter. After the Federal Reserve decided to lower interest rates by 50 basis points in September, the major indices saw a surge, with the DJIA and S&P 500 closing the quarter at all-time highs. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
GreensKeeper Asset Management highlighted stocks like Hathaway Inc. (NYSE:BRK-B), in the third quarter 2024 investor letter. Incorporated in 1998, Berkshire Hathaway Inc. (NYSE:BRK-B) engages in insurance, freight rail transportation, and utility businesses. The one-month return of Berkshire Hathaway Inc. (NYSE:BRK-B) was 1.782%, and its shares gained 32.90% of their value over the last 52 weeks. On December 4, 2024, Berkshire Hathaway Inc. (NYSE:BRK-B) stock closed at $468.32 per share with a market capitalization of $1.009 trillion.
GreensKeeper Asset Management stated the following regarding Berkshire Hathaway Inc. (NYSE:BRK-B) in its Q3 2024 investor letter:
“Our top contributor in the third quarter was portfolio stalwart Berkshire Hathaway Inc. (NYSE:BRK-B), which returned +13.1%. Although the railroad and utilities segments continue to face headwinds, the insurance and manufacturing businesses are producing robust profits, with BRK delivering its highest quarterly operating profit in recent history. The company’s remarkable cash generation allows BRK to reinvest capital into its individual businesses throughout the highs and lows of business cycles, a luxury many competitors cannot afford. Augmented by the sale of equity holdings, BRK ended the quarter with over $270 billion in cash on its balance sheet—proof that Buffett continually operates from a position of strength.”
A team of insurance professionals in a boardroom overlooking a city skyline.
Berkshire Hathaway Inc. (NYSE:BRK-B) is in 14th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 120 hedge fund portfolios held Berkshire Hathaway Inc. (NYSE:BRK-B) at the end of the third quarter which was 120 in the previous quarter. While we acknowledge the potential of Berkshire Hathaway Inc. (NYSE:BRK-B) 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 Berkshire Hathaway Inc. (NYSE:BRK-B) and shared the list of stocks that hedge funds and mutual funds are in love with and those that they hate according to Goldman Sachs. 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.
