Nightview Capital, an investment management company that concentrates exclusively on publicly traded equity strategies released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. This letter highlights five transformative trends that the firm is observing for 2025 and beyond, along with a review of key companies in the portfolio and how the portfolio is evolving in response to these trends. For more information on the fund’s top picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, Nightview Capital emphasized stocks such as Las Vegas Sands Corp. (NYSE:LVS). Las Vegas Sands Corp. (NYSE:LVS) owns and operates integrated resorts in Macao and Singapore. The one-month return Las Vegas Sands Corp. (NYSE:LVS) was -7.84%, and its shares lost 22.03% of their value over the last 52 weeks. On March 26, 2025, Las Vegas Sands Corp. (NYSE:LVS) stock closed at $40.31 per share with a market capitalization of $28.859 billion.
Nightview Capital stated the following regarding Las Vegas Sands Corp. (NYSE:LVS) in its Q4 2024 investor letter:
“Travel and entertainment are transforming as consumers prioritize experiences over material goods. This isn’t a return to pre pandemic norms—it’s a reinvention of how we connect, explore, and enjoy life. Travelers seek uniqueness and personalization, while entertainment blends digital and physical realms to create new experiences. The companies leading this evolution are redefining tradition through innovation, delivering unforgettable moments to a new generation. These businesses are not just adapting—they’re shaping the future of the experience economy.
Las Vegas Sands Corp. (NYSE:LVS): Core Opportunity: LVS is leveraging Macau’s recovery and Marina Bay Sands’ Singapore dominance to drive growth. Investments in its global portfolio highlight its commitment to long-term value creation.
Competitive Advantage: Macau Recovery: Macau’s gross gaming revenue is projected to exceed $30 billion by 2025, driven by premium mass market growth and the Londoner Grand opening. With “keys out of inventory” due to renovation peaking in Q4 2024 and new renovations completed we believe the company’s Macau assets are offering highly compelling valuations.
Marina Bay Sands Leadership: Ongoing enhancements and the $8 billion IR2 project, expected to add $1 billion in annual EBITDA, reinforce its position as a premier luxury destination…” (Click here to read the full text)
The dazzling Las Vegas Strip lined with luxury Integrated Resorts, seen from a high elevation.
Las Vegas Sands Corp. (NYSE:LVS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Las Vegas Sands Corp. (NYSE:LVS) at the end of the fourth quarter compared to 47 in the third quarter. While we acknowledge the potential of Las Vegas Sands Corp. (NYSE:LVS) 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.
We covered Las Vegas Sands Corp. (NYSE:LVS) in another article, where we shared the list of best casino stocks to buy according to billionaires. 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.