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Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. During the quarter, the strategy returned 8.2% net of fees compared to the S&P 500’s 2.4% return. According to a three-factor performance attribution model, allocation and selection effects contributed positively to the portfolio’s outperformance which was partially offset by interaction effects. For similar reasons, the fourth quarter of 2024 resembled the fourth quarter of 2023. 2023 benefitted from soft landing optimism, as did 2024 which was triggered by Donald Trump's election as the next president and a belief that fewer regulation and growth-oriented policies would be implemented. In addition, you can check the fund’s top 5 holdings to know its best picks in 2024.
Patient Capital Management highlighted stocks like SoFi Technologies, Inc. (NASDAQ:SOFI) in the Q4 2024 investor letter. SoFi Technologies, Inc. (NASDAQ:SOFI) offers financial services that operates through Lending, Technology Platform, and Financial Services segments. The one-month return of SoFi Technologies, Inc. (NASDAQ:SOFI) was 3.19%, and its shares gained 109.31% of their value over the last 52 weeks. On January 15, 2025, SoFi Technologies, Inc. (NASDAQ:SOFI) stock closed at $15.51 per share with a market capitalization of $16.83 billion.
Patient Capital Management stated the following regarding SoFi Technologies, Inc. (NASDAQ:SOFI) in its Q4 2024 investor letter:
"The top performers in the fourth quarter were once again Financials and Travel names. We’ve been over-indexed to them since the pandemic, which has served us well. We strategically added to certain financial names like SoFi Technologies, Inc. (NASDAQ:SOFI) and Coinbase Global Inc. (COIN) during the year. Both companies rebounded strongly in the fourth quarter.