Ace River Capital, an investment management company, released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 4.44% compared to an 11.7% and 14% return for the S&P 500 (SPX) and the Russell 2000 (RTY) respectively. For the full year, the fund delivered a -28.61% return vs 24% and 15.9% for the indexes, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ace River Capital featured stocks such as Vox Royalty Corp. (NASDAQ:VOXR) in the fourth quarter 2023 investor letter. Headquartered in Toronto, Canada, Vox Royalty Corp. (NASDAQ:VOXR) is a mining royalty and streaming company. On January 10, 2024, Vox Royalty Corp. (NASDAQ:VOXR) stock closed at $2.01 per share. One-month return of Vox Royalty Corp. (NASDAQ:VOXR) was -1.95%, and its shares lost 16.60% of their value over the last 52 weeks. Vox Royalty Corp. (NASDAQ:VOXR) has a market capitalization of $98.773 million.
Ace River Capital stated the following regarding Vox Royalty Corp. (NASDAQ:VOXR) in its fourth quarter 2023 investor letter:
“I have been exploring companies involved in metals and mining, hoping to find an opportunity. I believe I found a company that fits with the strategy and looks to be a perfect fit for the fund in Vox Royalty Corp. (NASDAQ:VOXR).
Vox Royalty Corp operates in the alternative financing space of mining royalties. Mining royalties are flexible agreements where a company like Vox will provide a one-time payment for a share of future revenue produced. These are normally long-term projects and royalty contracts can change hands before the contract begins producing revenue.
This is attractive as an asymmetric risk/reward tied to commodity prices since Vox has a fixed cost and initial investment but will profit more as prices rise or operations become increasingly efficient with many of the contracts…” (Click here to read the full text)
Aerial shot of a mining facility, revealing the vastness of the companies resources.
Vox Royalty Corp. (NASDAQ:VOXR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held Vox Royalty Corp. (NASDAQ:VOXR) at the end of third quarter which was 4 in 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.
