Bonhoeffer Capital Management, an asset management company, released its third-quarter 2023 investor letter. A copy of the same can be downloaded here. In industries experiencing economic downturns, Bonhoeffer Fund has replaced slower-growing companies with superior, expanding corporations and is still seeking out comparable prospects. The United States, South Korea, the United Kingdom, Canada, South Africa, and the Philippines were the countries to which the firm had the greatest exposure as of September 30, 2023. Consumer products, telecom/media, real estate/infrastructure, and distribution were the industries with the biggest exposures. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Bonhoeffer Capital Management highlighted stocks like Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in the third quarter 2023 investor letter. Headquartered in Thomasville, North Carolina, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is a less-than-truckload (LTL) motor carrier. On January 2, 2024, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) stock closed at $397.74 per share. One-month return of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was 6.66%, and its shares gained 37.73% of their value over the last 52 weeks. Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has a market capitalization of $43.399 billion.
In its Q3 2023 investor letter, Bonhoeffer Capital Management stated the following regarding Old Dominion Freight Line, Inc. (NASDAQ:ODFL):
“You can see how a firm like Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has consistently grown value over time despite having a generous valuation. Over the past 10 years, Old Dominion has had a one-star (overvalued) rating from Morningstar. The value growth (33%/year growth over the past 10 years) has driven this stock’s return (28%/year over the past 10 years) as the market has always been willing to pay a premium for this growth.”
A fleet of freight trucks parked in sequence, showcasing the efficiency of the company’s freight transportation.
Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Old Dominion Freight Line, Inc. (NASDAQ:ODFL) at the end of third quarter which was 25 in the previous quarter.
We discussed Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in another article and shared Wasatch U.S. Select Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Mark Cuban Stock Portfolio: 12 Stocks To Consider
- 25 Best Campsites in the US
- 16 Most Profitable Small-Cap Stocks Now
Disclosure: None. This article is originally published at Insider Monkey.
