White Falcon Capital Management, an investment fund manager, released its fourth-quarter 2024 investor letter, highlighting its top picks despite a slow market. The fund outperformed popular indices, including the S&P 500, MSCI All Country, and S&P TSX TR, with a 5.5% return in Q4.
The fund’s top holdings include Advanced Micro Devices (NASDAQ:AMD), a semiconductor company that operates through Data Center, Client, Gaming, and Embedded segments. AMD’s one-month return was 1.89%, while its shares lost 30.29% over the last 52 weeks.
White Falcon Capital Management stated in its letter that it sold half of its stakes in Advanced Micro Devices and Nu Holdings as they reached their intrinsic values. However, the decline in these stocks provided an opportunity to add to positions. The fund believes AMD retains potential to capture a small share of the AI chip market, despite facing competition from Nvidia.
Advanced Micro Devices is currently ranked 19th on the list of 30 Most Popular Stocks Among Hedge Funds, with 107 hedge funds holding the stock at the end of Q3. While the fund acknowledges AMD’s potential, its conviction lies in AI stocks for delivering higher returns within a shorter timeframe.
The fund’s stance on AMD detracted from the performance of Ithaka US Growth Strategy in Q4 2024. For more investor letters and hedge fund insights, visit our Q4 2024 page.
Source: https://finance.yahoo.com/news/advanced-micro-devices-amd-fell-151828198.html