Turtle Creek Asset Management, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. Turtle Creek had a rather difficult year that culminated in the fourth quarter. Even though the firm ended the year in the black, it was far behind the indices. This was a complete reversal from 2023. In 2024, Turtle Creek’s portfolio business value increased by 14%, compared to a muted 3% increase in 2023. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Turtle Creek Asset Management emphasized stocks such as Kinsale Capital Group, Inc. (NYSE:KNSL). Founded in 2009, Kinsale Capital Group, Inc. (NYSE:KNSL) is a specialty insurance company. The one-month return Kinsale Capital Group, Inc. (NYSE:KNSL) was 14.03%, and its shares lost 8.88% of their value over the last 52 weeks. On March 24, 2025, Kinsale Capital Group, Inc. (NYSE:KNSL) stock closed at $482.70 per share with a market capitalization of $11.236 billion.
Turtle Creek Asset Management stated the following regarding Kinsale Capital Group, Inc. (NYSE:KNSL) in its Q4 2024 investor letter:
“The third company is Kinsale Capital Group, Inc. (NYSE:KNSL), a specialty insurance company based in the United States. Kinsale operates in the unregulated excess and surplus lines of the insurance market. This is a good example of how, unlike many value investors, we will sometimes own companies that trade at high price-to-earnings multiples. Since we are willing to give a company credit for substantial growth far into the future (if we think it is merited), we do not miss the opportunity to invest in an outstanding company like Kinsale that may appear expensive to some investors based on its currently high traded multiple.”
A Professional insurance broker discussing coverage plans with a small business owner.
Kinsale Capital Group, Inc. (NYSE:KNSL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Kinsale Capital Group, Inc. (NYSE:KNSL) at the end of the fourth quarter which was 32 in the previous quarter. While we acknowledge the potential of Kinsale Capital Group, Inc. (NYSE:KNSL) 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 Kinsale Capital Group, Inc. (NYSE:KNSL) and shared Giverny Capital Asset 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.