June 22, 2024
Funds

Top Fourth Quarter Detractor of Longleaf Partners Fund


Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here.  The Fund had a good year this time. The fund returned 7.99% in the fourth quarter, compared to S&P’s 11.69% return and Russell 1000 Value’s 9.50% return. The fund had 24.49% yearly returns compared to 26.29% and 11.46 % returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Longleaf Partners Fund featured stocks such as Mattel, Inc. (NASDAQ:MAT) in the Q4 2023 investor letter. Headquartered in El Segundo, California, Mattel, Inc. (NASDAQ:MAT) is an entertainment company that designs and produces toys and consumer products. On January 23, 2024, Mattel, Inc. (NASDAQ:MAT) stock closed at $17.82 per share. One-month return of Mattel, Inc. (NASDAQ:MAT) was -6.16%, and its shares lost 11.34% of their value over the last 52 weeks. Mattel, Inc. (NASDAQ:MAT) has a market capitalization of $6.295 billion.

Longleaf Partners Fund stated the following regarding Mattel, Inc. (NASDAQ:MAT) in its fourth quarter 2023 investor letter:

“Mattel, Inc. (NASDAQ:MAT) – Global toy and media company Mattel was the top detractor in the quarter, though its strong 2Q performance on the back of the success of the Barbie movie made it a positive YTD contributor. Mattel reported positive 3Q23 results, with earnings and revenues beating guidance. However, negative sentiment weighed on the entire toy industry, with the challenging macro environment driving holiday season weakness. Mattel benefitted in the year from the strength of the Barbie movie, which underscores Ynon Kreiz’s plan to monetize the strong intellectual property that the company owns. The company bought back discounted shares in the quarter.”

2016, bangkok, beast, beauty, belle, best, booth, celebration, colorful, colourful, decoration, disney, disney princess, disneyland, fairy, family, fans, feast, friends, happy,

2016, bangkok, beast, beauty, belle, best, booth, celebration, colorful, colourful, decoration, disney, disney princess, disneyland, fairy, family, fans, feast, friends, happy,

enchanted_fairy / Shutterstock.com

Mattel, Inc. (NASDAQ:MAT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Mattel, Inc. (NASDAQ:MAT) at the end of third quarter which was 24 in the previous quarter.

We discussed Mattel, Inc. (NASDAQ:MAT) in another article and shared Ariel Fund’s views on the company in the previous quarter in the previous quarter. 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:

Disclosure: None. This article is originally published at Insider Monkey.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept All”, you consent to the use of ALL the cookies. However, you may visit "Cookie Settings" to provide a controlled consent. View more
Accept
Decline