Voss Capital, LLC an investment management company, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned +9.6% and +9.5% to investors net of fees and expenses respectively, in the quarter compared to a +0.3% return for the Russell 2000 Index, -1.1% return for the Russell 2000 Value Index, and +2.4% return for the S&P 500 Index. The Voss Value Master Fund’s total gross exposure stood at 184.3% and the net long exposure was 84.9% as of December 31st, 2024. The weight of the fund’s top 10 longs was 72.5% and the top 10 shorts were -14.6%. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
In its fourth quarter 2024 investor letter, Voss Capital emphasized stocks such as Playa Hotels & Resorts N.V. (NASDAQ:PLYA). Headquartered in Amsterdam, the Netherlands, Playa Hotels & Resorts N.V. (NASDAQ:PLYA) owns, and operates resorts in Mexico and the Caribbean. The one-month return of Playa Hotels & Resorts N.V. (NASDAQ:PLYA) was 6.65%, and its shares gained 45.46% of their value over the last 52 weeks. On February 25, 2025, Playa Hotels & Resorts N.V. (NASDAQ:PLYA) stock closed at $13.31 per share with a market capitalization of $1.637 billion.
Voss Capital stated the following regarding Playa Hotels & Resorts N.V. (NASDAQ:PLYA) in its Q4 2024 investor letter:
“Playa Hotels & Resorts N.V. (NASDAQ:PLYA) was one of our “easier” and more straight-forward investments that we wrote about publicly. An owner and operator of all-inclusive resorts in Mexico, Jamaica, and the Dominican Republic, we long thought that PLYA traded below both private market valuations and replacement cost. Given that it was executing well and still not getting credit in public markets, we believed the best course of action was to hang up the for-sale sign. When the company made out-of-cycle changes to their executive change-in-control payouts in September 2024, increasing the payouts to top executives in a sale and doing so three months before their existing employment agreements were set to expire, we significantly upsized the position (buying over 6% of the company), even calling out Hyatt as the most likely acquirer. Hyatt announced they were acquiring PLYA for $13.50 per share in early February. While the ultimate outcome and sale price was slightly disappointing (8% below the bottom of our estimated value range), our incremental purchases had a great IRR, as the stock has risen >75% from the time of the change-in-control amendments just five short months ago.”
Aerial view of the beachfront resort with a palm tree-lined beach.
Playa Hotels & Resorts N.V. (NASDAQ:PLYA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Playa Hotels & Resorts N.V. (NASDAQ:PLYA) at the end of the fourth quarter compared to 22 in the third quarter. While we acknowledge the potential of Playa Hotels & Resorts N.V. (NASDAQ:PLYA) 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 Playa Hotels & Resorts N.V. (NASDAQ:PLYA) and shared Parag Vora’s HG Vora Capital Management’s stock picks for 2025. 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.