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Crossroads Capital LLC, an investment management company released its third quarter 2024 investor letter. A copy of the same can be downloaded here. The Crossroads Capital Investment Partners, LP returned 4.2% net of all fees and expenses, bringing YTD net returns to 8.9%. The fund has compounded at 15.7% and 17.9% net, respectively, since inception, and over the last five years. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Crossroads Capital highlighted stocks like Nintendo Co., Ltd. (OTC:NTDOY) in the third quarter 2024 investor letter. Nintendo Co., Ltd. (OTC:NTDOY) develops, manufactures, and sells home entertainment products. The one-month return of Nintendo Co., Ltd. (OTC:NTDOY) was 16.28%, and its shares gained 27.26% of their value over the last 52 weeks. On December 17, 2024, Nintendo Co., Ltd. (OTC:NTDOY) stock closed at $15.36 per share with a market capitalization of $71.693 billion.
Crossroads Capital stated the following regarding Nintendo Co., Ltd. (OTC:NTDOY) in its Q3 2024 investor letter:
"Our thesis on Nintendo Co., Ltd. (OTC:NTDOY), the Godzilla of video gaming, is quite simple. Armed with its Apple-like iterative hardware model and software-based ecosystem, as well as a growing active player base and ever-increasing digital sales, the company should generate substantial earnings growth that is de-coupled from the past “boom-bust” console cycles it previously underwent. Additionally, its historically under-monetized IP continues to shine, getting new life in a rapidly expanding number of movies, theme parks, retail stores, general merchandise, and (we strongly suspect) a whole new crop of perpetual live service games in the years ahead.