White Falcon Capital Management, an investment fund manager, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. It was a good year for the fund on an absolute basis. However, the fund was unable to keep up with a fast charging market despite outperforming the popular indices for two years. It didn’t witness any notable increases, and didn’t suffer any large losses. In the quarter, the fund returned 5.5% compared to an 8.9% return for the S&P 500 (CAD), 5.0% for the MSCI All Country (CAD), and 3.8% for the S&P TSX TR. In addition, please check the fund’s top five holdings to know its best picks in 2024.
White Falcon Capital Management highlighted stocks like Perrigo Company plc (NYSE:PRGO), in the fourth quarter 2024 investor letter. Perrigo Company plc (NYSE:PRGO) offers over-the-counter health and wellness solutions. The one-month return of Perrigo Company plc (NYSE:PRGO) was -7.42%, and its shares lost 29.13% of their value over the last 52 weeks. On January 17, 2025, Perrigo Company plc (NYSE:PRGO) stock closed at $23.84 per share with a market capitalization of $3.25 billion.
White Falcon Capital Management stated the following regarding Perrigo Company plc (NYSE:PRGO) in its Q4 2024 investor letter:
“In the appendix to this letter, we present the investment thesis on Perrigo Company plc (NYSE:PRGO) – a consumer health company which, we believe, is close to an inflection point!
Perrigo Company plc, commonly known as Perrigo, is an American-Irish manufacturer renowned for its private label over-the-counter pharmaceuticals. The company’s roots trace back to 1887 when it was founded by Luther Perrigo in Allegan, Michigan. In 1887, Luther Perrigo, who owned a general store and an apple-drying business, conceived the idea of packaging and distributing patented medicines and household items to country stores. To boost customer loyalty, Luther introduced the “private label” concept, offering to print the store’s name on labels of products like Epsom salts, sweet oil, bay rum, and many other wet and dry goods at no extra cost. Perrigo established its first manufacturing facility in Allegan, Michigan, in 1921 and secured its first major private-label customer in the mid-1930s. This milestone marked the company’s transition from a re-packager of home remedies to a manufacturer of affordable healthcare products.
By the 1980s, the company had established itself as a key player in the private label over-the-counter (OTC) pharmaceutical market. In 1988, Perrigo went public, listing its shares on the NASDAQ stock exchange. The 1990s saw Perrigo extend its reach internationally, setting up operations in various countries and acquiring several companies to broaden its product portfolio and market presence…” (Click here to read the full text)
A doctor and a patient discussing the benefits of OTC health and wellness solutions.
Perrigo Company plc (NYSE:PRGO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Perrigo Company plc (NYSE:PRGO) at the end of the third quarter which was 39 in the previous quarter. In the third quarter, Perrigo Company plc’s (NYSE:PRGO) net sales decreased 3.2% year-over-year, while organic net sales declined 2.4%. While we acknowledge the potential of Perrigo Company plc (NYSE:PRGO) 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 Perrigo Company plc (NYSE:PRGO) and shared the list of best depressed stocks to buy heading into 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.