Broyhill Asset Management, a boutique investment firm, released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the portfolio increased 0.9% net of all fees and expenses, and year-to-date, the portfolio returned 12.3% net of all fees and expenses. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Broyhill Asset Management highlighted stocks like Nintendo Co., Ltd. (OTC:NTDOY) in the second quarter 2023 investor letter. Headquartered in Kyoto, Japan, Nintendo Co., Ltd. (OTC:NTDOY) engages in the development, manufacture, and sale of home entertainment products. On August 4, 2023, Nintendo Co., Ltd. (OTC:NTDOY) stock closed at $10.77 per share. One-month return of Nintendo Co., Ltd. (OTC:NTDOY) was -3.23%, and its shares lost 0.39% of their value over the last 52 weeks. Nintendo Co., Ltd. (OTC:NTDOY) has a market capitalization of $50.872 billion.
Broyhill Asset Management made the following comment about Nintendo Co., Ltd. (OTC:NTDOY) in its second quarter 2023 investor letter:
“Nintendo Co., Ltd. (OTC:NTDOY) has long suffered from self-inflicted opacity and what has been interpreted as a general disregard for shareholders or at least a less “western” view of shareholder capitalism. We have followed the company closely for years, looking for any hint that those views were shifting. We have long been intrigued by the company’s creative culture and its iconic intellectual properties, both of which are nearly unparalleled in the media industry. The recent release of The Super Mario Brothers Movie, which blew away even the most optimistic expectations, the opening of the company’s first Super Mario theme park in the US (following its inaugural opening in Japan and scheduled opening of its second US park), and the addition of the company’s first American board member (founder and CEO of film producer Illumination) would seem to indicate that the winds are changing. Shares of Nintendo also appear set to enjoy a number of catalysts in the future, including the next generation Switch and a robust slate of new games, most recently demonstrated by the latest installment of The Legend of Zelda, which sold 10 million copies in its first three days, making it the fasting selling game of all time. Notably, Nintendo tops the charts with two of the three best-selling game franchises of all time.3 We think shares are a long way from reflecting the company’s increased earnings power, which has inflected higher alongside the transition to the Switch platform and increasing share of higher margin digital sales.”
Nintendo Co., Ltd. (OTC:NTDOY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held Nintendo Co., Ltd. (OTC:NTDOY) at the end of first quarter which was 1 in the previous quarter. In addition, please check out our hedge fund investor letters Q2 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.
