Smoak Capital Management, LLC, an investment management firm, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In 2024, the fund’s net return was 32.4%, outperforming the S&P 500’s full-year return of 25.0%. The biggest, most successful tech companies drove returns in 2024, which was similar to 2023 for the larger markets. In 2024, sentiment toward AI might have reached a fever pitch if it wasn’t already there in 2023. Undoubtedly, as AI continues to advance, businesses and consumers will gain from it in a variety of ways, some of which are evident now and others of which we’ll only figure out later. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Smoak Capital Management emphasized stocks such as FitLife Brands, Inc. (NASDAQ:FTLF). FitLife Brands, Inc. (NASDAQ:FTLF) is a nutritional supplements provider. The one-month return of FitLife Brands, Inc. (NASDAQ:FTLF) was -6.16%, and its shares lost 36.14% of their value over the last 52 weeks. On February 13, 2025, FitLife Brands, Inc. (NASDAQ:FTLF) stock closed at $15.01 per share with a market capitalization of $138.245 million.
Smoak Capital Management stated the following regarding FitLife Brands, Inc. (NASDAQ:FTLF) in its Q4 2024 investor letter:
“Turning back to 2024, I was very pleased with the fund’s performance for the year. Our strongest contributors were 3 of our largest holdings: FitLife Brands, Inc. (NASDAQ:FTLF), QEP, and Azeus. I made the difficult decision to sell most of our FitLife investment later in the year. I still believe in the company and especially the management team but the proximity to my assessment of fair value and other opportunities were the deciding factors to sell much of our position. The fund still owns shares and if the right opportunity presents itself, I’d be happy to repurchase shares at a later date.”
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FitLife Brands, Inc. (NASDAQ:FTLF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held FitLife Brands, Inc. (NASDAQ:FTLF) at the end of the third quarter which was 2 in the previous quarter. While we acknowledge the potential of FitLife Brands, Inc. (NASDAQ:FTLF) 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 FitLife Brands, Inc. (NASDAQ:FTLF) and shared Alluvial Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.