Weitz Investment Management, an investment management firm, released its “Multi-Cap Equity Fund” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund’s Institutional Class returned 15.80% in the calendar year compared to +23.81% for the Russell 3000. The fund returned -0.57% for the fourth quarter compared to +2.63% for the index. The fund’s all-cap strategy focuses on investing in businesses of all sizes to broaden opportunities and protect against market leadership shifts. 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, Weitz Multi-Cap Equity Fund emphasized stocks such as Sirius XM Holdings Inc. (NASDAQ:SIRI). Sirius XM Holdings Inc. (NASDAQ:SIRI) is an audio entertainment company that operates through Sirius XM, and Pandora and Off-platform segments. The one-month return of Sirius XM Holdings Inc. (NASDAQ:SIRI) was -0.37%, and its shares lost 43.98% of their value over the last 52 weeks. On February 27, 2025, Sirius XM Holdings Inc. (NASDAQ:SIRI) stock closed at $23.92 per share with a market capitalization of $8.103 billion.
Weitz Multi-Cap Equity Fund stated the following regarding Sirius XM Holdings Inc. (NASDAQ:SIRI) in its Q4 2024 investor letter:
“Sirius XM Holdings Inc. (NASDAQ:SIRI) and its predecessor, Liberty SiriusXM, were among the year’s most notable detractors. The merger of SiriusXM and the Liberty holding company was a clear positive but saddled the company with a heightened debt load. Management has outlined achievable plans to retire debt through highly visible savings, beginning in 2025. We increased our holdings in SiriusXM Holdings post-merger.”
A close-up of a hand, counting the money from the subscription fees of the Entertainment Communication Services company.
Sirius XM Holdings Inc. (NASDAQ:SIRI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Sirius XM Holdings Inc. (NASDAQ:SIRI) at the end of the fourth quarter compared to 49 in the third quarter. While we acknowledge the potential of Sirius XM Holdings Inc. (NASDAQ:SIRI) 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 Sirius XM Holdings Inc. (NASDAQ:SIRI) and shared the list of stocks insiders spent the most money on recently. 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.