White Brook Capital Partners, an investment management firm, has released its investor letter for Q4 2023. The same can be downloaded here . In 2023, the fund returns 8.38% compared to the Midcap 400 Index's returns of 16.45% and the S&P 500 Index's returns of 26.04%. The dominance of Big Tech fueled a 26% rise for the S&P 500 in 2023. The market rallied in 2023 fueled by a strong economy and optimism about artificial intelligence. Additionally, please check out the fund's top five holdings to see its top picks in 2023.
White Brook Capital offered stocks such as Builders FirstSource, Inc. (NYSE:BLDR) in its Q4 2023 investor letter. Builders FirstSource, Inc. (NYSE:BLDR) of Irving, Texas, is a provider of building materials, manufactured components and construction services. On January 26, 2024, Builders FirstSource, Inc. stock closed. (NYSE:BLDR) at $169.52 per share. Builders FirstSource, Inc.'s revenues were (NYSE:BLDR) 1-Month 1.55%, and its shares have gained 120.96% of its value over the past 52 weeks. Builders FirstSource (NYSE:BLDR) has a market cap of $20.91 billion.
White Brook Capital has stated the following regarding Builders FirstSource, Inc. (NYSE:BLDR) in its Q4 2023 investor letter:
“FirstSource Builders, Inc. (NYSE:BLDR) remains the largest position in the portfolio. As interest rates stabilize, construction of single-family homes accelerates in late 2023 and early 2024, and the country continues to suffer from a housing shortage. Builders Firstsource generally charges a flat percentage on the building materials it distributes, with the exception of its own brands that usually solve a unique problem and are priced at a discount compared to the alternative. Management has proven to be excellent free cash flow focused operators and good allocators of capital. After a year, where the stock is up about 1.5x, I expect a more subdued but still positive return in 2024 and beyond.”
A crane raises a truss during the construction of a new building.
Builders FirstSource, Inc. (NYSE:BLDR) is not on our list of the 30 most popular stocks among hedge funds. According to our database, 53 hedge funds' portfolios held Builders FirstSource, Inc. (NYSE:BLDR) at the end of the third quarter, which was 57 in the previous quarter.
We discussed Builders FirstSource, Inc. (NYSE:BLDR) in another article shared Bonhoeffer Capital Management's views on the company in the previous quarter. Additionally, please see our Q4 2023 Hedge Fund Investor Letters page for additional investor letters from hedge funds and other major investors.
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Disclosure: None. This article was originally published on Insider Monkey.
