Investment management company Maran Capital Management recently released its second-quarter 2024 investor letter. A copy of the letter can be downloaded here. Maran Partners Fund returned +4.4% in the second quarter, net of all fees and expenses, which makes the yearly returns +7.9%, net. The partnership compounded at a rate greater than 13% annually, net, over the past five years. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Maran Capital Management highlighted stocks like Horizon Kinetics Holding Corporation (OTC:HKHC), in the second quarter 2024 investor letter. Horizon Kinetics Holding Corporation (OTC:HKHC) is an employee-owned investment manager. The one-month return of Horizon Kinetics Holding Corporation (OTC:HKHC) was -5.98%, and its shares gained 222.86% of their value over the last 52 weeks. On September 13, 2024, Horizon Kinetics Holding Corporation (OTC:HKHC) stock closed at $22.00 per share with a market capitalization of $409.963 million.
Maran Capital Management stated the following regarding Horizon Kinetics Holding Corporation (OTC:HKHC) in its Q2 2024 investor letter:
“We held the proverbial presses on this letter so that I could share the fantastic news that Scott’s Liquid Gold’s (“Scott’s”) merger with Horizon Kinetics Holding Corporation (OTC:HKHC) has closed. Horizon is an asset management firm run by a renowned team led by contrarian value investor Murray Stahl. He is joined by his partners Steven Bregman and Peter Doyle and a capable operating and investment team in managing Horizon’s nearly $8 billion of assets under management (AUM) and the $250 of million Net Tangible Assets on its balance sheet.3 Horizon’s public market debut coincides with the 30th anniversary of its founding in 1994 and the fifth anniversary of Maran Capital’s involvement in Scott’s.
Maran first invested in Scott’s in the fall of 2019 (though we strategically and opportunistically added to our position over time). I joined the board of Scott’s in January 2021 and became its chairman in April 2021. Over the subsequent few years, we cut costs, sold eight brands in five separate transactions, and repaid all debt, taking the company to a net cash balance sheet. It was from this position of strength that Scott’s negotiated and entered into, in December 2023, the merger agreement with Horizon…” (Click here to read the full text)
A portfolio manager pointing to a digital graph of emerging market assets.
Horizon Kinetics Holding Corporation (OTC:HKHC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. While we acknowledge the potential of Horizon Kinetics Holding Corporation (OTC:HKHC) 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 addition, please check out our hedge fund investor letters Q2 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.