Ensemble Capital Management, an investment management company, released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The fund saw exceptionally excellent absolute and relative performance in the fourth quarter. The fund was up 16.00% in the quarter while the S&P 500 appreciated 11.69%. The fund was up 21.75% for the full year vs the S&P 500 up 26.29%. The fund’s underperformance was due to its investment in First Republic, which the fund exited in March. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Ensemble Capital Management featured stocks such as Nintendo Co., Ltd. (OTC:NTDOY) in the fourth quarter 2023 investor letter. Headquartered in Kyoto, Japan, Nintendo Co., Ltd. (OTC:NTDOY) engages in the business of entertainment products. On January 18, 2024, Nintendo Co., Ltd. (OTC:NTDOY) stock closed at $13.65 per share. One-month return of Nintendo Co., Ltd. (OTC:NTDOY) was 11.98%, and its shares gained 27.09% of their value over the last 52 weeks. Nintendo Co., Ltd. (OTC:NTDOY) has a market capitalization of $63.567 billion.
Ensemble Capital Management stated the following regarding Nintendo Co., Ltd. (OTC:NTDOY) in its fourth quarter 2023 investor letter:
“Nintendo Co., Ltd. (OTC:NTDOY) (4.59% weight in the Fund): In recent months AI systems have been put to work rendering old video game characters in modern, high resolution. The systems work by providing the AI with the old, pixelated video game images as a reference and ask it to create a new image in the style of modern video game graphics. Over time, a company like Nintendo, which has a massive library of popular old games from the 1980s and 1990s, can use this type of AI system to reimagine their old games in modern, life-like images.
AI is going to impact the economy and every industry. But it will take time. Most importantly, it is starting to become clear that it is not only the companies with the most bleeding edge AI technology that will succeed, but rather those companies that can harness AI to better serve customers, better run their business, and better create value for all of their stakeholders that will leverage AI to the benefit of shareholders.”
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Nintendo Co., Ltd. (OTC:NTDOY) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held Nintendo Co., Ltd. (OTC:NTDOY) at the end of third quarter which was 1in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.
