Bonhoeffer Capital Management, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In industries experiencing economic downturns, Bonhoeffer Fund has replaced slower-growing companies with superior, expanding corporations and is still seeking out comparable prospects. The United States, South Korea, the United Kingdom, Canada, South Africa, and the Philippines were the countries to which the firm had the greatest exposure as of September 30, 2023. Consumer products, telecom/media, real estate/infrastructure, and distribution were the industries with the biggest exposures. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bonhoeffer Capital Management highlighted stocks like Millicom International Cellular S.A. (NASDAQ:TIGO) in the third quarter 2023 investor letter. Headquartered in Luxembourg, Millicom International Cellular S.A. (NASDAQ:TIGO) provides cable and mobile services. On January 2, 2024, Millicom International Cellular S.A. (NASDAQ:TIGO) stock closed at $18.08 per share. One-month return of Millicom International Cellular S.A. (NASDAQ:TIGO) was 9.05%, and its shares gained 35.63% of their value over the last 52 weeks. Millicom International Cellular S.A. (NASDAQ:TIGO) has a market capitalization of $3.106 billion.
In its Q3 2023 investor letter, Bonhoeffer Capital Management stated the following regarding Millicom International Cellular S.A. (NASDAQ:TIGO):
“Within this theme, the increasing use of transaction processing in the markets of our respective firms- as well as the rollout of fiberoptic and 5G networks-is providing growth opportunities. Given that most of these firms are holding companies and have multiple components of value (including real estate), the timeline for realization may be longer than for more mono-industry-focused firms. We are seeing event driven situations unfold in Consolidated Communications and Millicom International Cellular S.A. (NASDAQ:TIGO). For Millicom, Xavier Niel, the firm’s number-one shareholder, continues to buy shares after the Apollo bid was rejected by Millicom. Mr. Niel has also nominated board members, and Millicom has moved its CEO to the chairman position and replaced him with an associate of Mr. Niel.”
A close-up of a fiber-optic cable, sun rays reflecting its many data-carrying pathways.
Millicom International Cellular S.A. (NASDAQ:TIGO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Millicom International Cellular S.A. (NASDAQ:TIGO) at the end of third quarter which was 7 in the previous quarter.
We discussed Millicom International Cellular S.A. (NASDAQ:TIGO) in another article and shared Longleaf Partners Global Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 13 Best Get Rich Quick Stocks To Buy
- 14 Money Making Stocks To Invest In
- 15 Richest Countries that Pay You to Move There
Disclosure: None. This article is originally published at Insider Monkey.
