Silver Beech Capital, a value-oriented investment management firm, released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned 27.7% for the full-year 2023 net of fees compared to 23.7% for the S&P 500 and 13.0% for the Russell 2000 index. Since inception, the annual compounded return of the fund is 22.1% equating to 12.8% annualized outperformance over the S&P 500. The company is pleased with its outstanding achievement for the last three years, especially with its 2023 index-beating results. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Silver Beech Capital featured stocks such as Brookfield Asset Management Ltd. (NYSE:BAM) in the fourth quarter 2023 investor letter. Headquartered in Toronto, Canada, Brookfield Asset Management Ltd. (NYSE:BAM) is a real estate investment firm. On February 14, 2024, Brookfield Asset Management Ltd. (NYSE:BAM) stock closed at $40.20 per share. One-month return of Brookfield Asset Management Ltd. (NYSE:BAM) was 5.07%, and its shares gained 13.62% of their value over the last 52 weeks. Brookfield Asset Management Ltd. (NYSE:BAM) has a market capitalization of $15.689 billion.
Silver Beech Capital stated the following regarding Brookfield Asset Management Ltd. (NYSE:BAM) in its fourth quarter 2023 investor letter:
“Brookfield Corporation is a high-quality business with an excellent investing track record that has amassed one of the world’s largest discretionary pools of capital focused on managing and owning investments in infrastructure, renewables, real estate, insurance, private equity, and credit. Brookfield Corporation offers investment products and services focused on these verticals to institutional and retail clients through its asset-light investment management business named Brookfield Asset Management Ltd. (NYSE:BAM).
Brookfield Corporation owns a controlling 75% stake in Brookfield Asset Management and both companies are led by Bruce Flatt. Bruce has been at Brookfield virtually his entire career, having joined the company at 25 years old. Bruce was made CEO in 2002 when he was 37 years old. Bruce and other insiders are aligned with shareholders as they own over $10 billion of Brookfield Corporation stock…” (Click here to read the full text)
A skyline of modern office towers built with investments from the alternative asset manager.
Brookfield Asset Management Ltd. (NYSE:BAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 19 hedge fund portfolios held Brookfield Asset Management Ltd. (NYSE:BAM) at the end of third quarter which was 21 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 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.