Fairfax Financial Holdings Limited (FRFHF) Reported Strong EPS Growth in 2023

Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here.  The Fund had a good year this time. The fund returned 7.99% in the fourth quarter, compared to S&P’s 11.69% return and Russell 1000 Value’s 9.50% return. The fund had 24.49% yearly returns compared to 26.29% and 11.46 % returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Fund featured stocks such as Fairfax Financial Holdings Limited (OTC:FRFHF) in the fourth quarter 2023 investor letter. Headquartered in Toronto, Canada, Fairfax Financial Holdings Limited (OTC:FRFHF) provides property and casualty insurance, and reinsurance, and investment management. On January 23, 2024, Fairfax Financial Holdings Limited (OTC:FRFHF) stock closed at $993.00 per share. One-month return of Fairfax Financial Holdings Limited (OTC:FRFHF) was 8.52%, and its shares gained 55.16% of their value over the last 52 weeks. Fairfax Financial Holdings Limited (OTC:FRFHF) has a market capitalization of $24.483 billion.

Longleaf Partners Fund stated the following regarding Fairfax Financial Holdings Limited (OTC:FRFHF) in its fourth quarter 2023 investor letter:

“Fairfax Financial Holdings Limited (OTC:FRFHF) – Fairfax was another top performer after it consistently reported solid EPS growth throughout the year. CEO Prem Watsa guided expectations for $100 EPS for the next three years and is on pace to exceed this level in 2023. The company extended its fixed income investment duration when treasury yields spiked in October. The company delivered strong underwriting performance with a mid-90s% combined ratio and premiums increasing 5% in the most recent quarter. The company continues to return capital to shareholders through discounted share repurchase, and in early January announced it was raising its annual dividend from $10 to $15.”

A close-up of a life insurance policy with a middle-and lower-income family in the background.

Fairfax Financial Holdings Limited (OTC:FRFHF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. 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.