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White Brook Capital Partners, an investment management firm, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. White Brook Capital’s middle capitalization focused fund had a forgettable year in 2024. With the announcement of fourth-quarter earnings and positive 2025 outlook by the fund’s portfolio companies, fortunes have turned around thus far in 2025. The portfolio’s dominant theme is that it owns quality businesses in sectors that for one reason or another are out of favor. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
White Brook Capital Partners highlighted stocks like Krispy Kreme, Inc. (NASDAQ:DNUT) in the fourth quarter 2024 investor letter. Krispy Kreme, Inc. (NASDAQ:DNUT) is a doughnut producing company. The one-month return of Krispy Kreme, Inc. (NASDAQ:DNUT) was -5.54%, and its shares lost 30.62% of their value over the last 52 weeks. On January 27, 2024, Krispy Kreme, Inc. (NASDAQ:DNUT) stock closed at $9.38 per share with a market capitalization of $1.595 billion.
White Brook Capital Partners stated the following regarding Krispy Kreme, Inc. (NASDAQ:DNUT) in its Q4 2024 investor letter:
"Krispy Kreme, Inc. (NASDAQ:DNUT) has languished since our entry in 2024. In the fourth calendar quarter, the Company reported earnings inline with expectations while also doubling their forecast for the number of McDonald's locations they would be in by the end of the year. Importantly, given the timing of the rollout during the third quarter, they weren't yet seeing a financial impact of distributing through McDonalds.