Investment management company Maran Capital Management recently released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. Maran Partners Fund returned +1.0% net of all fees and expenses in the third quarter, which makes the yearly returns +9.0% net. The partnership compounded at a rate greater than 14% annually net, over the past five years, just slightly less than a “five-year double.” In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Maran Capital Management highlighted stocks like Horizon Kinetics Holding Corporation (OTC:HKHC), in the third quarter 2024 investor letter. Horizon Kinetics Holding Corporation (OTC:HKHC) is an employee-owned investment manager. The one-month return of Horizon Kinetics Holding Corporation (OTC:HKHC) was 39.13%, and its shares gained 357.14% of their value over the last 52 weeks. On November 4, 2024, Horizon Kinetics Holding Corporation (OTC:HKHC) stock closed at $32.00 per share with a market capitalization of $596.31 million.
Maran Capital Management stated the following regarding Horizon Kinetics Holding Corporation (OTC:HKHC) in its Q3 2024 investor letter:
“If we ever need a reminder about the power of long-term investing, patience, conviction, contrarianism, and independence, we need look no further than Murray Stahl and his firm, Horizon Kinetics Holding Corporation (OTC:HKHC).
Last quarter, I introduced Horizon Kinetics as a new top five position (and as a new public company!). As a reminder, Horizon Kinetics completed its merger with Scott’s Liquid Gold in August, which brought it public. It now trades under the ticker HKHC.
Horizon Kinetics is an asset management operator and investment holding company that was founded in 1994 with a small amount of capital. Today it is a thriving asset management business (it had approximately $8 billion of assets under management as of August 1, when it last disclosed that figure) that has also built up a sizeable balance sheet of its own (approximately $250 million as of August 1, again, when it was last disclosed)…” (Click here to read the full text)
A business professional banking from their laptop, taking advantage of the company’s investment services.
Horizon Kinetics Holding Corporation (OTC:HKHC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. While we acknowledge the potential of Horizon Kinetics Holding Corporation (OTC:HKHC) 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 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.