UBS Group AG (UBS) Benefitted from Credit Suisse’s Acquisition

Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the quarter the strategy returned 17.6% net of fees compared to the S&P 500’s 11.7% return. The portfolio’s outperformance can be attributed to a three-factor model, where interaction, selection, and allocation effects all played a significant role. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Patient Capital Management featured stocks such as UBS Group AG (NYSE:UBS) in the fourth quarter 2023 investor letter. Based in Zurich, Switzerland, UBS Group AG (NYSE:UBS) provides financial management solutions. On January 30, 2024, UBS Group AG (NYSE:UBS) stock closed at $30.23 per share. One-month return of UBS Group AG (NYSE:UBS) was 3.17%, and its shares gained 39.31% of their value over the last 52 weeks. UBS Group AG (NYSE:UBS) has a market capitalization of $97.742 billion.

Patient Capital Management stated the following regarding UBS Group AG (NYSE:UBS) in its fourth quarter 2023 investor letter:

“UBS Group AG (NYSE:UBS) is a name we opportunistically purchased following the banking crisis earlier in the year. UBS benefited from buying its largest local competitor, Credit Suisse, for an 80% discount from where it was trading before the crisis. We bought after the deal, believing the market’s myopic focus on short-term integration risks failed to properly value the attractive set of assets. While the stock has done well since then, we still believe it is underappreciating the long-term return potential of the business.”

A close-up picture of financial documents and computers in a modern office setting.

UBS Group AG (NYSE:UBS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held UBS Group AG (NYSE:UBS) at the end of third quarter which was 33 in the previous quarter.

We discussed UBS Group AG (NYSE:UBS) in another article and shared the list of prominent NYSE stocks that hit 52-week highs this week. 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.