Tourlite Capital Management, an investment management firm, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. Tourlite Fund, LP returned 0.4% for Q4 2024 and 14.2% for 2024. Since inception, the fund has annualized returns of 10.2% compared to 11.6% and 4.2% for the S&P 500 and the Russell 2000 Indexes. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Tourlite Capital Management emphasized stocks such as Sable Offshore Corp. (NYSE:SOC). Sable Offshore Corp. (NYSE:SOC) is an oil and gas exploration and development company. The one-month return of Sable Offshore Corp. (NYSE:SOC) was 5.19%, and its shares gained 92.42% of their value over the last 52 weeks. On March 6, 2025, Sable Offshore Corp. (NYSE:SOC) stock closed at $23.09 per share with a market capitalization of $2.06 billion.
Tourlite Capital Management stated the following regarding Sable Offshore Corp. (NYSE:SOC) in its Q4 2024 investor letter:
“Sable Offshore Corp. (NYSE:SOC), an exploration and production (E&P) company, acquired an offshore asset from Exxon off the California coast that had been shut down following a pipeline spill. In July, the California State Fire Marshal approved the pipeline’s restart, and in September, Sable settled with Santa Barbara County for the necessary permits to install new safety valves. With these approvals in place, production was initially slated to resume late in the fourth quarter of 2024.
However, in October, the California Coastal Commission issued a cease-and-desist order, halting repair work on the exposed section of the pipeline that crosses Santa Barbara’s coastline. In response, Sable chose to collaborate with the commission to meet its demands, delaying production into at least the first quarter of 2025. On February 13th, 2025, Santa Barbara Country sent the Costal Commission a letter stating Sable had the required permits to complete the required work…” (Click here to read the full text)
Photo by American Public Power Association on Unsplash
Sable Offshore Corp. (NYSE:SOC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Sable Offshore Corp. (NYSE:SOC) at the end of the fourth quarter compared to 22 in the third quarter. While we acknowledge the potential of Sable Offshore Corp. (NYSE:SOC) 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 Sable Offshore Corp. (NYSE:SOC) and shared the list of best performing energy stocks so far in 2025. In addition, please check out our hedge fund investor letters Q4 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.