Investment management company First Pacific Advisors recently released its “The FPA Crescent Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund gained 3.70% and 21.27% in the trailing twelve months. Crescent’s net risk exposure stands at 68.5% at the end of the quarter, reflecting a decrease of about four percentage points compared to the same time last year. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
FPA Crescent Fund highlighted stocks like Jefferies Financial Group Inc. (NYSE:JEF) in the third quarter 2024 investor letter. Jefferies Financial Group Inc. (NYSE:JEF) is an investment banking and capital markets firm. The one-month return of Jefferies Financial Group Inc. (NYSE:JEF) was 1.37%, and its shares gained 96.64% of their value over the last 52 weeks. On December 31, 2024, Jefferies Financial Group Inc. (NYSE:JEF) stock closed at $78.40 per share with a market capitalization of $16.111 billion.
FPA Crescent Fund stated the following regarding Jefferies Financial Group Inc. (NYSE:JEF) in its Q3 2024 investor letter:
“Jefferies Financial Group Inc. (NYSE:JEF) shares have appreciated due to strong operating performance, wise capital allocation from the company’s owner-operator CEO, and building excitement for a strong investment banking and capital markets environment expected to be facilitated by lower interest rates and clarity on the US Election.”
A financial advisor shaking hands with a client, representing the wealth management services of the company.
Jefferies Financial Group Inc. (NYSE:JEF) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Jefferies Financial Group Inc. (NYSE:JEF) at the end of the third quarter which was 39 in the previous quarter. While we acknowledge the potential of Jefferies Financial Group Inc. (NYSE:JEF) 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 Jefferies Financial Group Inc. (NYSE:JEF) and shared the list of best performing Warren Buffett stocks in 2024. 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.