Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund (Unhedged)” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 11.19% in the fourth quarter, compared to a 10.94% return for the MSCI AC World Index Net Divs in Australian benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Cooper Investors Global Equities Fund highlighted stocks like Formula One Group (NASDAQ:FWONK), in the fourth quarter 2024 investor letter. Formula One Group (NASDAQ:FWONK) is a motorsports company. One-month return of Formula One Group (NASDAQ:FWONK) was -4.19%, and its shares gained 33.28% of their value over the last 52 weeks. On January 21, 2025, Formula One Group (NASDAQ:FWONK) stock closed at $90.98 per share with a market capitalization of $22.409 billion.
Cooper Investors Global Equities Fund stated the following regarding Formula One Group (NASDAQ:FWONK) in its Q4 2024 investor letter:
“The largest contributors to returns were Booking Holdings (BKNG) and Formula One Group (NASDAQ:FWONK). FWONK is the owner the Formula One, the oldest and most prestigious global motor racing competition. As described in our September Quarterly Letter with our commentary on TKO Holdings, we are attracted to Sports Content assets FWONK’s operating trends continue to be strong on the track and with fan engagement, this is driving incremental monetisation. including the announcement in October of LVMH signing a 10-year global partner agreement, outbidding legacy sponsor Rolex. We continue to see significant value latency in FWONK, including improved monetisation across their key value drivers (Media Rights, Race Promotion and Commercial), the recent acquisition of MotoGP, and the enhanced strategic value from the impending spin-off of Liberty Live Group, which will result in FWONK converting from a tracking stock to an asset backed company.”
Three racing cars competing side by side at a motorsports event, demonstrating the power and precision of the company’s racing technology.
Formula One Group (NASDAQ:FWONK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Formula One Group (NASDAQ:FWONK) at the end of the third quarter which was 50 in the previous quarter. While we acknowledge the potential of Formula One Group (NASDAQ:FWONK) 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.
We previously discussed Formula One Group (NASDAQ:FWONK) in another article, where we shared the list of best entertainment stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.