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White Falcon Capital Management, an investment fund manager, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. It was a good year for the fund on an absolute basis. However, the fund was unable to keep up with a fast charging market despite outperforming the popular indices for two years. It didn't witness any notable increases, and didn't suffer any large losses. In the quarter, the fund returned 5.5% compared to an 8.9% return for the S&P 500 (CAD), 5.0% for the MSCI All Country (CAD), and 3.8% for the S&P TSX TR. In addition, please check the fund’s top five holdings to know its best picks in 2024.
White Falcon Capital Management highlighted stocks like Vale S.A. (NYSE:VALE), in the fourth quarter 2024 investor letter. Vale S.A. (NYSE:VALE) produces and sells iron ore, iron ore pellets, nickel, and copper. The one-month return of Vale S.A. (NYSE:VALE) was 0.45%, and its shares lost 35.22% of their value over the last 52 weeks. On January 17, 2025, Vale S.A. (NYSE:VALE) stock closed at $8.94 per share with a market capitalization of $38.162 billion.
White Falcon Capital Management stated the following regarding Vale S.A. (NYSE:VALE) in its Q4 2024 investor letter:
"While this uncertainty in Brazil has prompted many investors to offload Brazilian stocks, we’ve taken advantage of this environment to establish a position in Vale S.A. (NYSE:VALE). Vale is among the world's largest and lowest-cost iron ore producers and boasts a growing portfolio of high-demand copper and nickel assets. It is currently trading at a P/E of 5.3x with a 8% dividend yield."
Aerial view of a giant iron ore mine, showcasing the mineral deposits of the company's Ferrous Minerals segment.
Vale S.A. (NYSE:VALE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Vale S.A. (NYSE:VALE) at the end of the third quarter which was 34 in the previous quarter. While we acknowledge the potential of Vale S.A. (NYSE:VALE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Vale S.A. (NYSE:VALE) and shared best low-priced stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.