White Brook Capital Partners, an investment management firm, released its fourth-quarter 2023 investor letter. The same can be downloaded here. In 2023, the fund returned 8.38% compared to the Midcap 400 Index’s 16.45% and the S&P 500 Index’s 26.04% returns. The dominance of major tech companies fueled a 26% rise for the S&P 500 in 2023. The market surged in 2023 fueled by a robust economy and AI optimism. In addition, please check the fund’s top five holdings to know its best picks in 2023.
White Brook Capital featured stocks such as Builders FirstSource, Inc. (NYSE:BLDR) in the fourth quarter 2023 investor letter. Based in Irving, Texas, Builders FirstSource, Inc. (NYSE:BLDR) is a building material, manufactured components, and construction services provider. On January 26, 2024, Builders FirstSource, Inc. (NYSE:BLDR) stock closed at $169.52 per share. One-month return of Builders FirstSource, Inc. (NYSE:BLDR) was 1.55%, and its shares gained 120.96% of their value over the last 52 weeks. Builders FirstSource, Inc. (NYSE:BLDR) has a market capitalization of $20.91 billion.
White Brook Capital stated the following regarding Builders FirstSource, Inc. (NYSE:BLDR) in its fourth quarter 2023 investor letter:
“Builders FirstSource, Inc. (NYSE:BLDR) remains the largest position in the portfolio. As interest rates have settled, single-family home building has accelerated in late 2023 and early 2024, and the country continues to be under-housed. Builders Firstsource generally charges a fixed percentage on the building materials it distributes, excluding its private label brands that usually solve a unique problem for which they price at a discount to the alternative. Management has proven themselves to be excellent free cash flow-focused operators and good capital allocators. After a year, where the stock was up ~1.5x, I expect a more muted but still positive return in 2024 and beyond.”
A crane lifting a truss during the construction of a new building.
Builders FirstSource, Inc. (NYSE:BLDR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held Builders FirstSource, Inc. (NYSE:BLDR) at the end of third quarter which was 57 in the previous quarter.
We discussed Builders FirstSource, Inc. (NYSE:BLDR) in another article and shared Bonhoeffer Capital Management’s views on the company in the previous quarter. 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.
