5 Stocks Hedge Funds Are Buying

4. Brookfield Asset Management Ltd. (NYSE:BAM)

Number of Hedge Fund Holders: 28

Number of Hedge Funds That Bought: 28

Brookfield Asset Management Ltd. (NYSE:BAM) was formed in December 2022, when Brookfield Corporation (NYSE:BN), formerly known as Brookfield Asset Management Inc., decided to spin-off its asset management arm into a new asset management company. Brookfield Asset Management Ltd. (NYSE:BAM) is one of the world’s largest alternative asset manager and has an estimated $800 billion in assets under management. The company invests across renewable energy, infrastructure, private equity, real estate, and credit. As of March 10, Brookfield Asset Management Ltd. (NYSE:BAM) is worth $13.04 billion.

Brookfield Asset Management Ltd. (NYSE:BAM) is one of the stocks that hedge funds bought heavily in Q4 2022. The stock was spotted on 28 hedge funds’ portfolios at the end of the fourth quarter of 2022. These funds disclosed collective positions worth $292 million in the company.

Here is what Baron Funds had to say about Brookfield Asset Management Ltd. (NYSE:BAM) in its Q4 2022 investor letter:

“Brookfield Asset Management Ltd. (NYSE:BAM) is an asset-light alternative manager that was recently spun out of Brookfield Corporation. The company invests in real estate, infrastructure, renewable power, private equity, and credit assets globally and has more than $750 billion assets under management (AUM) and $400 billion of fee-earning capital. The stock declined 20.9% for the period held during the fourth quarter as investors sold the “stub” security after its spin-off was completed. We retain conviction given the company’s diversified asset base, sustainable cash flows, strong asset management platform, and ability to deploy capital globally.”