Investment fund manager White Falcon Capital Management has released its first quarter 2024 investor letter. You can download a copy of the same here. The portfolio achieved satisfactory results on an absolute basis during the quarter. The fund returned 8.7% in the first quarter, compared to 12.8% for the S&P 500 (CAD), 10.5% for MSCI All Country (CAD) and 6.6% for the S&P TSX TR. Plus, check out the fund's top 5 holdings to find out the best stocks for 2024.
White Falcon Capital Management highlighted stocks such as Franco-Nevada Corporation (NYSE:FNV) in its Q1 2024 investor letter. Franco-Nevada Corporation (NYSE:FNV), headquartered in Toronto, Canada, is a gold-focused royalty and streaming company. On April 19, 2024, Franco-Nevada Corporation (NYSE: FNV) stock closed at $121.47 per share. Franco-Nevada Corporation (NYSE:FNV)’s 1-month return is 3.40%, and the company’s stock has lost 21.84% of its value over the past 52 weeks. Franco-Nevada Corporation (NYSE:FNV) has a market capitalization of $22,809 million.
White Falcon Capital Management said the following about Franco-Nevada Corporation (NYSE:FNV) in its Q1 2024 investor letter:
“The rise in gold prices has resulted in a higher weighting in precious metals royalty companies than our normal 10-15% allocation to precious metals royalty companies.We recently published an article in the Globe and Mail. I wrote franco nevada corporation (NYSE:FNV) is a portfolio company and can be accessed through our blog. We believe that royalties are a better way to express an opinion on gold because they pay dividends and have a choice in both the price of gold and additional discoveries by operating companies. With debt and deficits rising by the minute and central banks unable to control inflation, we believe it is wise to have “outside the system” assets in your portfolio that can protect your purchasing power over the long term. ”
Aerial view of a large gold mine showing how natural resources are extracted on a large scale.
Franco-Nevada Corporation (NYSE:FNV) is not included in the list of 30 most popular stocks among hedge funds. At the end of the fourth quarter, Franco-Nevada Corporation (NYSE:FNV) had 30 holdings in its hedge fund portfolio, down from 27 in the prior quarter, according to our database.
We previously covered Franco-Nevada Corporation (NYSE:FNV) in another article and shared a list of the best precious metal stocks to invest in. Additionally, for additional investor letters from Hedge, please visit our Hedge Fund Investor Letters Q1 2024 page. Funds and other major investors.
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Disclosure: None. This article was originally published on Insider Monkey.
