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 FTAI Infrastructure Inc. (NASDAQ:FIP). Headquartered in New York, New York, FTAI Infrastructure Inc. (NASDAQ:FIP) acquires, develops, and operates assets and businesses that represent infrastructure for customers in the transportation and energy industries. The one-month return of FTAI Infrastructure Inc. (NASDAQ:FIP) was -24.44%, and its shares lost 5.94% of their value over the last 52 weeks. On March 6, 2025, FTAI Infrastructure Inc. (NASDAQ:FIP) stock closed at $5.07 per share with a market capitalization of $577.661 million.
Tourlite Capital Management stated the following regarding FTAI Infrastructure Inc. (NASDAQ:FIP) in its Q4 2024 investor letter:
“We continue to view FTAI Infrastructure Inc. (NASDAQ:FIP) as a highly attractive opportunity with multiple potential catalysts. While there haven’t been any recent hard catalysts, we see a strong likelihood of positive developments ahead. All four of FIP’s assets appear poised for a meaningful inflection point in 2025.
In early February, Long Ridge successfully priced its notes as part of its debt refinancing. Meanwhile, FIP is actively pursuing the acquisition of GCM Grosvenor’s 49.9% stake in Long Ridge. We expect this transaction to be highly accretive, as FIP plans to issue stock in exchange for what we believe to be an undervalued position in Long Ridge. Additionally, we see significant upside potential in Long Ridge through a potential data center deal later this year.”
Aerial view of a deep-water port, with cargo ships coming and going.
FTAI Infrastructure Inc. (NASDAQ:FIP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held FTAI Infrastructure Inc. (NASDAQ:FIP) at the end of the fourth quarter compared to 21 in the third quarter. While we acknowledge the potential of FTAI Infrastructure Inc. (NASDAQ:FIP) 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 FTAI Infrastructure Inc. (NASDAQ:FIP) and shared Diamond Hill Small Cap Fund’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.
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Disclosure: None. This article is originally published at Insider Monkey.