White Falcon Capital Management, an investment fund manager, released its first-quarter 2025 investor letter. A copy of the letter can be downloaded here. The fund’s performance for the recent quarter was below expectations, as the gains from gold and silver royalty holdings were unable to cover the losses in some of the larger positions. On a positive note, the portfolio company, Converge Technologies (CTS), was acquired at a significant premium during this time. In the quarter, the fund returned -6.7% compared to a -4.4% return for the S&P 500 (CAD), -1.2 % for the MSCI All Country (CAD), and 1.5% for the S&P TSX TR. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its first-quarter 2025 investor letter, White Falcon Capital Management highlighted stocks such as Grifols, S.A. (NASDAQ:GRFS). Grifols, S.A. (NASDAQ:GRFS) is a plasma therapeutic company. The one-month return of Grifols, S.A. (NASDAQ:GRFS) was 1.41%, and its shares gained 11.27% of their value over the last 52 weeks. On April 25, 2025, Grifols, S.A. (NASDAQ:GRFS) stock closed at $7.21 per share with a market capitalization of $5.914 billion.
White Falcon Capital Management stated the following regarding Grifols, S.A. (NASDAQ:GRFS) in its Q1 2025 investor letter:
“In the appendix of this letter, you will find our investment thesis on Grifols, S.A. (NASDAQ:GRFS), a family-owned Spanish multinational and a leading player in the oligopolistic plasma-derived therapies market. Years of mismanagement and poor corporate governance, exacerbated by COVID-19 challenges and high debt, have weighed on its performance. However, we now see the business inflecting due to an operational improvement plan implemented by a new management team. Sid Kapur, an investment analyst intern with White Falcon, authored this report. He has been instrumental in supporting our research efforts and has played a key role in moving many files forward.
It is worth noting that our portfolio’s global reach is evident not only in our investment in Grifols but also in our holdings of various non-U.S. companies – Nu Holdings, EPAM, Endava, Rentokil – all complementing our significant Canadian investments. As we’ve highlighted previously, our portfolio strategy results in a markedly different set of holdings compared to the S&P 500 and other popular market indices…” (Click here to read the full text)
A state-of-the-art manufacturing facility, with robotic arms and conveyor belts for drug production.
Grifols, S.A. (NASDAQ:GRFS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held Grifols, S.A. (NASDAQ:GRFS) at the end of the fourth quarter, compared to 19 in the third quarter. While we acknowledge the potential of Grifols, S.A. (NASDAQ:GRFS) 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 covered Grifols, S.A. (NASDAQ:GRFS) and shared the list of best low price pharma stocks to invest in. In addition, please check out our hedge fund investor letters Q1 2025 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.