Bronte Capital, an investment management company, released its “Amalthea Fund” first-quarter 2024 investor letter. A copy of the same can be downloaded here. The fund was flat in April (0.00%) compared to -2.79% for the MSCI ACWI (in $A). The fund is up 17% compared to 15.37% for the index for the Australian FY. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Bronte Capital Amalthea Fund featured stocks like Alphabet Inc. (NASDAQ:GOOG) in the Q1 2024 investor letter. Headquartered in Mountain View, California, Alphabet Inc. (NASDAQ:GOOG) offers various platforms and services operates through Google Services, Google Cloud, and Other Bets segments. On May 14, 2024, Alphabet Inc. (NASDAQ:GOOG) stock closed at $171.93 per share. One-month return of Alphabet Inc. (NASDAQ:GOOG) was 9.59%, and its shares gained 41.53% of their value over the last 52 weeks. Alphabet Inc. (NASDAQ:GOOG) has a market capitalization of $2.1 trillion.
Bronte Capital Amalthea Fund stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its first quarter 2024 investor letter:
“Our biggest position is Alphabet Inc. (NASDAQ:GOOG), the holding company for Google. It is currently about 12 percent of funds under management. This has been a large position for over ten years.
We bought a large position in Google in October 20104, and the stock immediately dropped 11 percent.
That was an astonishingly good purchase and if we had held it all from October 2010 until the end of this month the gain would have been about 1300 percent.
Alas we did not hold it all. We have trimmed it many times – and it is now merely a large position. (We have lived to regret every single trim…)..” (Click here to read the full text)
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Alphabet Inc. (NASDAQ:GOOG) is in 7th position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Alphabet Inc. (NASDAQ:GOOG) was held by 166 hedge fund portfolios, compared to 163 in the previous quarter, according to our database.
In another article, we discussed Alphabet Inc. (NASDAQ:GOOG) and shared Jim Cramer and Ken Fisher favorite stock picks. Third Point Management, a New York-based investment advisor, expressed its optimism about Alphabet Inc.’s (NASDAQ:GOOG) exceptional business model and proven ability to maintain a dominant position in the market. In addition, please check out our hedge fund investor letters Q1 2024 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.
