Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned -1.33% in the fourth quarter, compared to the S&P 500’s 2.41% return and Russell 1000 Value’s -1.98% return. For the year the fund returned 8.80% compared to 25.02% and 14.37% returns for the indexes. For more information on the fund’s best picks in 2024, please check its top five holdings.
Longleaf Partners Fund highlighted stocks like HF Sinclair Corporation (NYSE:DINO), in the fourth quarter 2024 investor letter. HF Sinclair Corporation (NYSE:DINO) is an independent energy company. The one-month return of HF Sinclair Corporation (NYSE:DINO) was 3.54%, and its shares lost 35.76% of their value over the last 52 weeks. On January 28, 2024, HF Sinclair Corporation (NYSE:DINO) stock closed at $36.29 per share with a market capitalization of $6.837 billion.
Longleaf Partners Fund stated the following regarding HF Sinclair Corporation (NYSE:DINO) in its Q4 2024 investor letter:
“HF Sinclair Corporation (NYSE:DINO) – Energy infrastructure company HF Sinclair, which owns refining, midstream, specialty chemicals, marketing and renewable fuels assets, detracted in the quarter and for the year. The company owns unique assets that are protected from competition and has a great culture focused on value per share growth and realization. We had the opportunity to purchase this strong company in the quarter due to the recent refining downcycle and oil price volatility. We know HF Sinclair well having owned it before in 2015 in the Small-Cap Fund and having followed it since we first visited the company in 2009. As is typical in this industry, quarterly volatility in spread pricing can weigh on the share price in the short term, which is what happened this quarter. We were encouraged to see significant insider buying throughout the quarter as we were buying alongside them.”
A close-up of a gasoline pump nozzle at a service station, revealing the company’s consumer-facing branding.
HF Sinclair Corporation (NYSE:DINO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held HF Sinclair Corporation (NYSE:DINO) at the end of the third quarter which was 30 in the previous quarter. HF Sinclair Corporation (NYSE:DINO) reported net loss of $76 million in the third quarter, or negative $0.40 per diluted share. While we acknowledge the potential of HF Sinclair Corporation (NYSE:DINO) 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 HF Sinclair Corporation (NYSE:DINO) and shared the list of worst performing energy stocks in 2024. 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.