Bell Asset Management, an investment management company, released its Q4 2024 “Bell Global Equities Fund” investor letter. A copy of the letter can be downloaded here. A depreciating Australian Dollar boosted returns for local investors, concluding another successful year for equity investors. The MSCI World ex-Australia Index rose 2.6% over December, while the Bell Global Equities Fund (Platform Class) returned 2.8%, outpacing the Index by 0.2%. Annually, absolute returns were strong, with the Fund (Platform Class) appreciating by 21.7%, though it lagged the MSCI World ex-Australia Index, which increased by 31.2%. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.
In its fourth quarter 2024 investor letter, Bell Global Equities Fund emphasized stocks such as Clean Harbors, Inc. (NYSE:CLH), in the fourth quarter 2024 investor letter. Clean Harbors, Inc. (NYSE:CLH) provides environmental and industrial services that operates through Environmental Services and Safety-Kleen Sustainability Solutions segments. The one-month return of Clean Harbors, Inc. (NYSE:CLH) was -11.75%, and its shares gained 15.61% of their value over the last 52 weeks. On February 26, 2025, Clean Harbors, Inc. (NYSE:CLH) stock closed at $210.52 per share with a market capitalization of $11.338 billion.
Bell Global Equities Fund stated the following regarding Clean Harbors, Inc. (NYSE:CLH) in its Q4 2024 investor letter:
“The other new name introduced to the portfolio was Clean Harbors, Inc. (NYSE:CLH), the largest hazardous waste company in North America. We expect Clean Harbors’ demand to grow a little faster than GDP as environmental regulations continue to tighten and the scarcity value of their landfill and incinerator assets allows them to consistently raise prices. Additionally, the onshoring of manufacturing and their Total PFAS solution act as further growth drivers. We initiated the position based on these robust fundamentals, coupled with our belief that the market has yet to fully appreciate the value of these assets and services, a view supported by recent private market transaction prices.”
A truck filled with hazardous waste being safely unloaded at a recycling facility.
Clean Harbors, Inc. (NYSE:CLH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Clean Harbors, Inc. (NYSE:CLH) at the end of the fourth quarter compared to 44 in the third quarter. While we acknowledge the potential of Clean Harbors, Inc. (NYSE:CLH) 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 Clean Harbors, Inc. (NYSE:CLH) and shared Merion Road Capital Management’s views on the company. 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.