Greenhaven Road Capital, an investment management company, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The Fund returned approximately +15% in the third quarter, bringing year-to-date returns to approximately +12% net. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Greenhaven Road Capital highlighted stocks like Burford Capital Limited (NYSE:BUR), in the third quarter 2024 investor letter. Burford Capital Limited (NYSE:BUR) offers legal finance products and services. The one-month return of Burford Capital Limited (NYSE:BUR) was -3.72%, and its shares gained 1.49% of their value over the last 52 weeks. On November 13, 2024, Burford Capital Limited (NYSE:BUR) stock closed at $13.17 per share with a market capitalization of $2.922 billion.
Greenhaven Road Capital stated the following regarding Burford Capital Limited (NYSE:BUR) in its Q3 2024 investor letter:
“Burford Capital Limited (NYSE:BUR) – We have owned litigation financer Burford for less than two years, but the progress was not long in waiting. Substantial developments in their legal case against Argentina have occurred, with the potential proceeds being multiples of BUR’s current share price. The Argentina case is far from their only valuable asset and Burford also holds another $5B of cases in their portfolio that could be worth substantially more.”
An accountant meticulously going over documents in her office, exemplifying the company’s commitment to accuracy and detail.
Burford Capital Limited (NYSE:BUR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Burford Capital Limited (NYSE:BUR) at the end of the second quarter which was 33 in the previous quarter. Burford Capital Limited’s (NYSE:BUR) net income in the third quarter was $136 million, resulting in $0.61 earnings per share. While we acknowledge the potential of Burford Capital Limited (NYSE:BUR) 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 another article, we discussed Burford Capital Limited (NYSE:BUR) and shared the list of high growth UK stocks to invest in. In addition, please check out our hedge fund investor letters Q3 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.