Bonhoeffer Capital Management, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In industries experiencing economic downturns, Bonhoeffer Fund has replaced slower-growing companies with superior, expanding corporations and is still seeking out comparable prospects. The United States, South Korea, the United Kingdom, Canada, South Africa, and the Philippines were the countries to which the firm had the greatest exposure as of September 30, 2023. Consumer products, telecom/media, real estate/infrastructure, and distribution were the industries with the biggest exposures. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bonhoeffer Capital Management highlighted stocks like Liberty Latin America Ltd. (NASDAQ:LILA) in the third quarter 2023 investor letter. Based in Hamilton, Bermuda, Liberty Latin America Ltd. (NASDAQ:LILA) provides fixed, mobile, and subsea telecommunications services. On January 2, 2024, Liberty Latin America Ltd. (NASDAQ:LILA) stock closed at $7.31 per share. One-month return of Liberty Latin America Ltd. (NASDAQ:LILA) was 1.81%, and its shares lost 2.92% of their value over the last 52 weeks. Liberty Latin America Ltd. (NASDAQ:LILA) has a market capitalization of $1.509 billion.
In its Q3 2023 investor letter, Bonhoeffer Capital Management stated the following regarding Liberty Latin America Ltd. (NASDAQ:LILA):
“Contrast that to Liberty Latin America Ltd. (NASDAQ:LILA), which for much of the past 7.25 years (since the spin-off) has had an undervalued (four or five star) rating. The value growth (-11%/year growth over the past 7.25 years) has driven this stock’s return (-14%/year over the past 7.25 years), as the market increasingly discounted this stock for negative growth-a classic value trap. The future value of Liberty Latin America is driven by the ability to increase its intrinsic value over time with the changes in valuation playing a secondary role.”
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Liberty Latin America Ltd. (NASDAQ:LILA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Liberty Latin America Ltd. (NASDAQ:LILA) at the end of third quarter which was 12 in the previous quarter.
We discussed Liberty Latin America Ltd. (NASDAQ:LILA) in another article and shared the list of small-cap stocks that Warren Buffett believes will experience significant returns. In addition, please check out our hedge fund investor letters Q3 2023 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.
