Investment management company GoodHaven Capital Management released its second-quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the first half of the year 2022, the fund outperformed the S&P 500 index declining by 3.86% compared to a drop of 8.85% for the S&P 500 Index. The fund has been performing well over the last 2 semi-annual fiscal years. You can check the top 5 holdings of the fund to know its best picks in 2022.
GoodHaven Capital Management discussed stocks like Builders FirstSource, Inc. (NYSE:BLDR) in the second quarter investor letter. Headquartered in Dallas, Texas, Builders FirstSource, Inc. (NYSE:BLDR) is a manufacturer and distributor of building materials. On August 25, 2022, Builders FirstSource, Inc. (NYSE:BLDR) stock closed at $65.27 per share. One-month return of Builders FirstSource, Inc. (NYSE:BLDR) was -4.01% and its shares gained 22.57% of their value over the last 52 weeks. Builders FirstSource, Inc. (NYSE:BLDR) has a market capitalization of $10.187 billion.
“We have had for some time a material exposure to two companies, Lennar Corp and Builders FirstSource, Inc. (NYSE:BLDR), that operate in/around the housing market. Our long-term enthusiasm for their future remains unchanged. On the way up we reminded you that although these had become better businesses (an important part of our thesis), they were still cyclical businesses and that we prepared to own them through a normal housing cycle, versus trying to predict the cycle. In July 2021 we wrote:
“One of these days the red hot housing market will slow—in fact a more normalized pace of demand might be better—as Lennar and its brethren are striving to balance very strong demand with higher raw materials and tight labor markets. While we trimmed our Builders FirstSource position to free up funds for new buys, we remain very constructive on both Builders and Lennar’s long-term prospects. Expect periodic normal demand slowdowns from time to time, though we think slowdowns will be less pronounced than in prior cycles.””
Builders FirstSource, Inc. (NYSE:BLDR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Builders FirstSource, Inc. (NYSE:BLDR) at the end of the first quarter which was 50 in the previous quarter.
We discussed Builders FirstSource, Inc. (NYSE:BLDR) in another article and shared Black Bear Value Partners’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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