Silver Beech Capital, a value-oriented investment management firm, released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 8.4% in the first quarter net of fees compared to 10.6% for the S&P 500 and 5.6% for the Russell 2000 index. Since inception, the annual compounded return of the fund is 23.3% equating to 11.3% annualized outperformance over the S&P 500. The firm is focusing on making strong investments in the long term. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Silver Beech Capital featured stocks like WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) in the first quarter 2024 investor letter. Headquartered in Phoenix, Arizona, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) offers workspace and portable storage solutions. On May 17, 2024, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) stock closed at $40.65 per share. One-month return of WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) was 6.95%, and its shares lost 10.11% of their value over the last 52 weeks. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) has a market capitalization of $7.727 billion.
Silver Beech Capital stated the following regarding WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) in its first quarter 2024 investor letter:
“We recently initiated a new position in WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC). WillScot is the leading North American provider of portable and turnkey modular building units and storage space. WillScot’s 156k modular units and 212k portable storage units are leased to a diverse 80k+ customer base across industrial, infrastructure, education, government, and natural resources users. WillScot’s modular products are depicted in Figure 2 below.
WillScot’s products are mission-critical and possess minimal technological or obsolescence risk. On a large construction site, project managers work in modular units where they update and store site-specific documents (work orders, safety reports, etc.). WillScot also offers customers an extensive array of value-added products and services (“VAPS”). These VAPS include unit furnishings, air conditioning, solar panels, restrooms, tech hardware, and many other add-ons. WillScot’s extensive offerings help fulfill a structural shift in customer demand for flexible modular and reduced waste/lower carbon footprint solutions…” (Click here to read the full text)
Aerial shot of a modular space surrounded by poratable storage units.
WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) at the end of the fourth quarter which was 50 in the previous quarter.
In another article, we discussed WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) and shared the list of oversold growth stocks to buy. 11 Oversold MidCap Stocks To Buy Now also considers WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) as an oversold stock to buy with an average analyst share price target of $53.40. In addition, please check out our hedge fund investor letters Q1 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.
