GreenWood Investors, an investment management company, released its fourth quarter investor letter. A copy of the letter can be downloaded here. The fund’s separate accounts composite generated 16.6% returns, in 2024, roughly in line with the benchmark MSCI ACWI return of 16.3%. Since inception to date, the strategy returned 10.8% CAGR compared to 7.7% for ACWI. In addition, please check the fund’s top five holdings to know its best picks in 2024.
GreenWood Investors highlighted stocks like Texas Pacific Land Corporation (NYSE:TPL), in the fourth quarter 2024 investor letter. Texas Pacific Land Corporation (NYSE:TPL) engages in land and resource management, as well as water services and operations. The one-month return of Texas Pacific Land Corporation (NYSE:TPL) was 5.71%, and its shares gained 153.11% of their value over the last 52 weeks. On January 8, 2025, Texas Pacific Land Corporation (NYSE:TPL) stock closed at $1,275.94 per share with a market capitalization of $29.315 billion.
GreenWood Investors stated the following regarding Texas Pacific Land Corporation (NYSE:TPL) in its Q4 2024 investor letter:
“Despite US companies comprising 73% of the global all-cap index, an all-time high, and the top 10 companies representing 40% of the S&P 500 index, we have found it hard to find low risk, high reward opportunities in the coo kid crowd, though we are looking every singe day. In fact, one opportunity that we seized upon in 2022, Texas Pacific Land Corporation (NYSE:TPL), did end up driving 5% of our gross performance in the year. We have largely sold down this position, as optimism on being included in the S&P 500 index has pulled forward many years of good news for the company.”
A pipeline running through a rural landscape, a reminder of the companies oil and gas Royalty Interest.
Texas Pacific Land Corporation (NYSE:TPL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Texas Pacific Land Corporation (NYSE:TPL) at the end of the third quarter which was 21 in the previous quarter. While we acknowledge the potential of Texas Pacific Land Corporation (NYSE:TPL) 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 Texas Pacific Land Corporation (NYSE:TPL) and shared the list of stocks in focus from Jim Cramer’s Latest Lightning Round. 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.