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Crossroads Capital LLC, an investment management company released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The Crossroads Capital Investment Partners, LP returned 3.5% net of all fees and expenses, bringing YTD net returns to 5.7%. The fund has compounded at 14.8% and 14.7% net, respectively, since inception, and over the last five years outperforming its most suitable benchmarks, as well as the S&P 500. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Crossroads Capital emphasized stocks such as Magnite, Inc. (NASDAQ:MGNI). Magnite, Inc. (NASDAQ:MGNI) operates an independent omnichannel sell-side advertising platform. The one-month return of Magnite, Inc. (NASDAQ:MGNI) was -17.05%, and its shares gained 24.60% of their value over the last 52 weeks. On March 3, 2025, Magnite, Inc. (NASDAQ:MGNI) stock closed at $14.69 per share with a market capitalization of $2.254 billion.
Crossroads Capital stated the following regarding Magnite, Inc. (NASDAQ:MGNI) in its Q4 2024 investor letter:
"Magnite, Inc. (NASDAQ:MGNI) is the largest independent programmatic Sell-Side Platform (SSP), an entity that provides technology solutions to automate the purchase and sale of digital advertising inventory on behalf of publishers. The company arose from the merger of The Rubicon Project and Telaria in 2020. It then acquired a CTV competitor SpotX in early 2021 to become the third-biggest CTV SSP, after Comcast’s Freewheel and the Darth Vader of the AdTech world, Google. Critically, Magnite stands today as the key enabler of Connected TV advertising for streaming platforms, an increasingly crucial revenue source for media parent companies around the world.