Alphyn Capital Management, an investment management firm, released its first-quarter 2024 investor letter. A copy of the letter can be downloaded here. The Master Account of the fund returned 7.1% net in the first quarter compared to 10.6% for the S&P500 Index. As of March 31, 2024, the top ten holdings accounted for approximately 66% of the portfolio, and approximately 8.2% of the portfolio was held in cash. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Alphyn Capital Management featured stocks like KKR & Co. Inc. (NYSE:KKR) in the first quarter 2024 investor letter. Headquartered in New York, New York, KKR & Co. Inc. (NYSE:KKR) is an equity and real estate investment firm. On April 10, 2024, KKR & Co. Inc. (NYSE:KKR) stock closed at $99.01 per share. One-month return of KKR & Co. Inc. (NYSE:KKR) was 2.24%, and its shares gained 90.40% of their value over the last 52 weeks. KKR & Co. Inc. (NYSE:KKR) has a market capitalization of $88.066 billion.
Alphyn Capital Management stated the following regarding KKR & Co. Inc. (NYSE:KKR) in its first quarter 2024 investor letter:
“While KKR & Co. Inc. (NYSE:KKR)’s business has always been somewhat involved and complex to understand, its share price has performed strongly over the past couple of years as the company has proven its ability to drive earnings growth, approximately doubling it every five years, mainly by earning fees on growing assets under management, generating performance fees on client investments, and generating solid returns using its balance sheet.
The company’s structure as a publicly listed partnership made it difficult for some institutions to own and inconvenient for retail investors as it required filing a K1 tax return. The company converted to a C-Corp in 2018, paving the way for potential inclusion in the S&P 500…” (Click here to read the full text)
A modern looking financial adviser sitting in front of a trading monitor, gesturing to a group of investors.
KKR & Co. Inc. (NYSE:KKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, KKR & Co. Inc. (NYSE:KKR) was held by 68 hedge fund portfolios, down from 69 in the previous quarter, according to our database.
We discussed KKR & Co. Inc. (NYSE:KKR) in another article and shared ClearBridge Mid Cap Strategy’s views on the company in the previous quarter. 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.
