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 The Liberty SiriusXM Group (NASDAQ:LSXMK) in the fourth quarter 2023 investor letter. Headquartered in Englewood, Colorado, The Liberty SiriusXM Group (NASDAQ:LSXMK) engages in the entertainment business. On February 12, 2024, The Liberty SiriusXM Group (NASDAQ:LSXMK) stock closed at $30.65 per share. One-month return of The Liberty SiriusXM Group (NASDAQ:LSXMK) was 0.82%, and YTD its shares gained 6.50% of their value. The Liberty SiriusXM Group (NASDAQ:LSXMK) has a market capitalization of $10.025 billion.
Partners III Opportunity Fund stated the following regarding The Liberty SiriusXM Group (NASDAQ:LSXMK) in its fourth quarter 2023 investor letter:
“Amazon, Meta Platforms, and Microsoft also landed spots on the list of quarterly contributors, joined by Visa, Inc. (V) and Liberty Media Corp.-Liberty SiriusXM (LSXMK). Capping off a busy year, in December The Liberty SiriusXM Group (NASDAQ:LSXMK) announced a transaction that will eliminate its tracking stock structure, leaving all shareholders with direct ownership in SiriusXM Holdings, Inc. (SIRI). Closing next year, the transaction should (finally!) help Liberty investors monetize a portion of the discount on their underlying SiriusXM shares.”
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The Liberty SiriusXM Group (NASDAQ:LSXMK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held The Liberty SiriusXM Group (NASDAQ:LSXMK) at the end of third quarter which was 46 in the previous quarter.
We discussed The Liberty SiriusXM Group (NASDAQ:LSXMK) in another article and shared Warren Buffett’s stock picks with huge upside potential. 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.
