Bretton Capital Management, an investment management company, released “Bretton Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. This quarter saw record highs for both the fund and the market, as well as many of the firm’s holdings. In the third quarter, the fund returned 9.99% compared to 5.89% return for the S&P 500. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Bretton Fund highlighted stocks like Eagle Materials Inc. (NYSE:EXP), in the third quarter 2024 investor letter. Eagle Materials Inc. (NYSE:EXP) is a heavy construction material and light building materials supplier. The one-month return of Eagle Materials Inc. (NYSE:EXP) was -3.25%, and its shares gained 63.78% of their value over the last 52 weeks. On December 3, 2024, Eagle Materials Inc. (NYSE:EXP) stock closed at $302.60 per share with a market capitalization of $10.15 billion.
Bretton Fund stated the following regarding Eagle Materials Inc. (NYSE:EXP) in its Q3 2024 investor letter:
“Our most recent addition, Eagle Materials Inc. (NYSE:EXP), is in the more prosaic business of making cement and wallboard, and while it’s unlikely to match the earnings growth of Alphabet, it trades for a lower multiple. We’re optimistic on both stocks. We remain hopeful all our companies will continue to grow their earnings and cash flow over time, and our share prices will ultimately reflect this value creation.”
A vast construction site with heavy machinery, materials, and workers, showcasing the company’s global presence.
Eagle Materials Inc. (NYSE:EXP) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Eagle Materials Inc. (NYSE:EXP) at the end of the third quarter which was 28 in the previous quarter. In the fiscal second quarter of 2025 Eagle Materials Inc.’s (NYSE:EXP) revenue reached a record high of $624 million, slightly exceeding the previous year’s revenue. While we acknowledge the potential of Eagle Materials Inc. (NYSE:EXP) 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 Eagle Materials Inc. (NYSE:EXP) and shared the list of best construction materials stocks to buy. 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.