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Horos Asset Management, an investment management firm, published its third quarter 2024 investor letter. A copy of the same can be downloaded here. During the quarter, Horos Value Internacional fund returned 2.9% (9.8% in 2024) and Horos Value Iberia fund returned -0.2% (3.0% in 2024). Asian markets have experienced unheard-of volatility in the third quarter of 2024, with the Chinese and Japanese stock markets experiencing sharp fluctuations not seen in decades. Equities markets in the West, meanwhile, have held steady, with key indices continuing their relentless rise. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Horos Asset Management highlighted stocks like Noah Holdings Limited (NYSE:NOAH), in the third quarter 2024 investor letter. Noah Holdings Limited (NYSE:NOAH) is an investment advisory and wealth management services provider. The one-month return of Noah Holdings Limited (NYSE:NOAH) was -8.78%, and its shares lost 16.51% of their value over the last 52 weeks. On December 30, 2024, Noah Holdings Limited (NYSE:NOAH) stock closed at $11.53 per share with a market capitalization of $824.24 million.
Horos Asset Management stated the following regarding Noah Holdings Limited (NYSE:NOAH) in its Q3 2024 investor letter:
"As usual, we will also discuss the most significant changes that we made to our portfolios during the third quarter. Among others, we can highlight that Horos Value Internacional initiated new positions in the Hong Kong-based wealth management and portfolio advisory company Noah Holdings Limited (NYSE:NOAH).