Should You Hold Brookfield Asset Management Ltd. (BAM)?

Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” first-quarter 2024 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Class Y) returned 9.63% compared to an 8.60% return for the Russell Midcap Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Madison Mid Cap Fund featured stocks like Brookfield Asset Management Ltd. (NYSE:BAM) in the first quarter 2024 investor letter. Headquartered in Toronto, Canada, Brookfield Asset Management Ltd. (NYSE:BAM) is a real estate investment firm. On April 17, 2024, Brookfield Asset Management Ltd. (NYSE:BAM) stock closed at $39.03 per share. One-month return of Brookfield Asset Management Ltd. (NYSE:BAM) was -8.49%, and its shares gained 19.18% of their value over the last 52 weeks. Brookfield Asset Management Ltd. (NYSE:BAM) has a market capitalization of $15.172 billion.

Madison Mid Cap Fund stated the following regarding Brookfield Asset Management Ltd. (NYSE:BAM) in its first quarter 2024 investor letter:

“We also made two sales during the quarter, Brookfield Corp and Take-Two Interactive Software. In late 2022 Brookfield Corp spun out its asset management business, Brookfield Asset Management Ltd. (NYSE:BAM), of which we received shares. Given the potential secular growth opportunity, capital-light business model, and cleaner balance sheet, we decided to concentrate our investment in the asset management business and added to our position in BAM in 4Q23. This sale of Brookfield Corp in 1Q completes this trade.”

A skyline of modern office towers built with investments from the alternative asset manager.

Brookfield Asset Management Ltd. (NYSE:BAM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Brookfield Asset Management Ltd. (NYSE:BAM) was held by 16 hedge fund portfolios, compared to 19 in the previous quarter, according to our database.

We previously discussed Brookfield Asset Management Ltd. (NYSE:BAM) in another article, where we shared Silver Beech Capital’s views on the company. 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.