Investment management firm Ave Maria recently released its Q4 2023 investor letter for the Ave Maria Growth Fund. You can download a copy of the same here. The fund's total return for the fourth quarter was 14.25%, compared to the S&P 500 Index's return of 11.69%. For the full year, the fund returned 30.29%, compared to the index's return of 26.29%. Check out the fund's top five holdings to learn about the best stocks for 2023.
Ave Maria Growth Fund is owned by Watsuco (NYSE:WSO) in the fourth quarter 2023 investor letter. Watsco, Inc. (NYSE:WSO), headquartered in Miami, Florida, sells air conditioning, heating and refrigeration equipment, and related parts and supplies. On February 28, 2024, Watsco Inc. (NYSE: WSO) stock closed at $395.97 per share. His 1-month return for Watsco, Inc. (NYSE: WSO) is 0.27%, and the company's stock has increased his 28.37% in value over the past 52 weeks. Watsco, Inc. (NYSE:WSO) has a market capitalization of $15.611 billion.
In its Q4 2023 investor letter, Ave Maria Growth Fund said of Watsco (NYSE:WSO):
”Watsuco Co., Ltd. (NYSE:WSO) is an HVAC distribution company whose resilient business model has generated 15% annualized returns for investors over the past 20 years. One of the secrets of Watsco's success lies in its ability to intelligently acquire competitors at reasonable prices. CEO Albert Nahamad has been at the helm of Watsco since 1972, and if there was a hall of fame for public company executives, he would definitely be in it. Watsko's near-term performance should also benefit from higher prices for his HVAC equipment driven by environmental regulations that require more efficient units. ”
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Watsco, Inc. (NYSE:WSO) isn't on our list of 30 most popular stocks among hedge funds. According to our database, at the end of the fourth quarter, Watsco (NYSE: WSO)'s hedge fund portfolio was held in 33 companies, up from his 30 companies last quarter. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
