Investment management company Ave Maria recently released its “Ave Maria Focused Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -2.37% compared to the S&P MidCap 400 Growth Index’s -3.25% return. Year-to-date the fund returned 21.03% compared to the 6.88% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.
Ave Maria Focused Fund highlighted stocks like DigitalBridge Group, Inc. (NYSE:DBRG) in the third quarter 2023 investor letter. Headquartered in Boca Raton, Florida, DigitalBridge Group, Inc. (NYSE:DBRG) is an infrastructure investment firm. On December 15, 2023, DigitalBridge Group, Inc. (NYSE:DBRG) stock closed at $17.05 per share. One-month return of DigitalBridge Group, Inc. (NYSE:DBRG) was 2.10%, and its shares gained 40.21% of their value over the last 52 weeks. DigitalBridge Group, Inc. (NYSE:DBRG) has a market capitalization of $2.786 billion.
Ave Maria Focused Fund made the following comment about DigitalBridge Group, Inc. (NYSE:DBRG) in its Q3 2023 investor letter:
“DigitalBridge Group, Inc. (NYSE:DBRG) started its life with particularly complicated financials as the two data center businesses it owned directly obfuscated the economics of its asset management business. However, DigitalBridge plans to divest enough of their ownership in these two businesses that they will no longer be required to consolidate them in their reported financials. Consequently, its reported financials will be much simpler to analyze and reflect the profile of a pure-play alternative asset manager. DigitalBridge differentiates itself by focusing exclusively on digital infrastructure, an asset class that institutional allocators are severely under allocated to. DigitalBridge is actively fundraising for its third flagship investment fund. With an expected 11-year fund life, this fund could generate fees for the company and its investors for a long time.
We are confident that these three alternative investment managers will grow their respective businesses substantially over the next five years. This should provide ample growth in their stock prices and, consequently, the Fund’s positions in them.”
Workers installing a complex telecommunications infrastructure within an urban cityscape.
DigitalBridge Group, Inc. (NYSE:DBRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held DigitalBridge Group, Inc. (NYSE:DBRG) at the end of third quarter which was 25 in the previous quarter.
We discussed DigitalBridge Group, Inc. (NYSE:DBRG) in another article and shared Meridian Contrarian Fund’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.
