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 WillScot Holdings Corporation (NASDAQ:WSC). WillScot Mobile Mini Holdings Corp. changed its name to WillScot Holdings Corporation (NASDAQ:WSC) in July 2024. WillScot Holdings Corporation (NASDAQ:WSC) is a company that offers workspace and portable storage solutions. The one-month return WillScot Holdings Corporation (NASDAQ:WSC) was -9.60%, and its shares lost 33.36% of their value over the last 52 weeks. On March 24, 2025, WillScot Holdings Corporation (NASDAQ:WSC) stock closed at $30.60 per share with a market capitalization of $5.617 billion.
Turtle Creek Asset Management stated the following regarding WillScot Holdings Corporation (NASDAQ:WSC) in its Q4 2024 investor letter:
“The final company we added this year is WillScot Holdings. WillScot is the dominant provider of turnkey space solutions in North America: think modular offices, temporary classrooms, portable storage containers, etc. When we established the position, the company was in the midst of a large acquisition – buying a smaller competitor called McGrath Rentcorp. We were sceptical that the acquisition would be approved by the competition authorities and so didn’t include this acquisition in our financial forecast. As it turned out, WillScot had to cancel the proposed acquisition and announced a meaningful share repur chase program – right in line with our assumptions.”
Aerial shot of a modular space surrounded by poratable storage units.
WillScot Holdings Corporation (NASDAQ:WSC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held WillScot Holdings Corporation (NASDAQ:WSC) at the end of the fourth quarter which was 52 in the previous quarter. In the fourth quarter, WillScot Holdings Corporation’s (NASDAQ:WSC) reported total revenue of $603 million, representing a decline of roughly 2% compared to the previous year, with leasing revenue falling approximately 3%. While we acknowledge the potential of WillScot Holdings Corporation (NASDAQ:WSC) 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 WillScot Holdings Corporation (NASDAQ:WSC) and shared the list of best self storage and apartment stocks to invest in. 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.