Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund’s Institutional Class returned +5.98% compared to a +12.07% return for the Russell 3000 Index. Further, the fund returned +17.32%, compared to +25.96% for the index during the Calander year. An already successful year was capped off by strong performance across risk assets in the fourth quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Weitz Investment Management Partners III Opportunity Fund featured stocks such as Perimeter Solutions, SA (NYSE:PRM) in the fourth quarter 2023 investor letter. Headquartered in Clayton, Missouri, Perimeter Solutions, SA (NYSE:PRM) is a firefighting products and lubricant additives manufacturer and supplier. On February 12, 2024, Perimeter Solutions, SA (NYSE:PRM) stock closed at $5.42 per share. One-month return of Perimeter Solutions, SA (NYSE:PRM) was 30.60%, and its shares lost 39.03% of their value over the last 52 weeks. Perimeter Solutions, SA (NYSE:PRM) has a market capitalization of $828.089 million.
Partners III Opportunity Fund stated the following regarding Perimeter Solutions, SA (NYSE:PRM) in its fourth quarter 2023 investor letter:
“The Fund’s top detractors in 2023 were CoreCard Corp. (CCRD US), Perimeter Solutions, SA (NYSE:PRM), and The Charles Schwab Corporation (SCHW) (sold during the first quarter in the wake of regional bank stresses). Perimeter is the leading provider of fire retardants and firefighting foam used to combat wildfires. While positive news for residents, acres burned in Perimeter’s markets (particularly California) were significantly below average for the second year in a row, diminishing cash flow and obscuring the company’s earnings power compared to a more typical year.”
thanmano/Shutterstock.com
Perimeter Solutions, SA (NYSE:PRM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Perimeter Solutions, SA (NYSE:PRM) at the end of third quarter which was 22 in the previous quarter.
We discussed Perimeter Solutions, SA (NYSE:PRM) in another article and shared the best small cap chemical 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.
Suggested Articles:
- 13 Best Metaverse Stocks To Buy Right Now
- 25 Most Valuable Oil Companies in the World
- 30 Most Densely Populated Cities in the US
Disclosure: None. This article is originally published at Insider Monkey.
