The London Company, an investment management company, released “The London Company Small Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, US stocks experienced a significant surge, causing major indices to record double-digit gains. In the quarter, the fund returned 11.9% (11.7% net) compared to a 14% increase in the Russell 2000 Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Small Cap Strategy featured stocks such as White Mountains Insurance Group, Ltd. (NYSE:WTM) in the fourth quarter 2023 investor letter. Headquartered in Hamilton, Bermuda, White Mountains Insurance Group, Ltd. (NYSE:WTM) is an insurance and other financial services provider. On February 7, 2024, White Mountains Insurance Group, Ltd. (NYSE:WTM) stock closed at $1,581.00 per share. One-month return of White Mountains Insurance Group, Ltd. (NYSE:WTM) was 3.52%, and its shares gained 6.90% of their value over the last 52 weeks. White Mountains Insurance Group, Ltd. (NYSE:WTM) has a market capitalization of $4.048 billion.
The London Company Small Cap Strategy stated the following regarding White Mountains Insurance Group, Ltd. (NYSE:WTM) in its fourth quarter 2023 investor letter:
“White Mountains Insurance Group, Ltd. (NYSE:WTM) – We believe the relative underperformance of WTM in 4Q reflected dovish comments from the Fed and a rotation into more aggressive stocks. During the quarter, WTM launched a private investment fund led by John Daly, who founded Alleghany Capital (since Berkshire Hathaway acquired Alleghany and no longer needed a separate Alleghany Capital), We have confidence in management’s ability to increase book value per share over time, through both conservative underwriting and portfolio changes.”
A financial analyst reviewing a corporate bond document to analyze the risk and return characteristics of a Fixed Income Investment.
White Mountains Insurance Group, Ltd. (NYSE:WTM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held White Mountains Insurance Group, Ltd. (NYSE:WTM) at the end of third quarter which was 13 in the previous quarter.
We discussed White Mountains Insurance Group, Ltd. (NYSE:WTM) in another article and shared the list of high growth low/no dividend stocks to buy. 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.
