Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the quarter the strategy returned 17.6% net of fees compared to the S&P 500’s 11.7% return. The portfolio’s outperformance can be attributed to a three-factor model, where interaction, selection, and allocation effects all played a significant role. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Patient Capital Management featured stocks such as Expedia Group, Inc. (NASDAQ:EXPE) in the fourth quarter 2023 investor letter. Headquartered in Seattle, Washington, Expedia Group, Inc. (NASDAQ:EXPE) is an online travel company. On January 30, 2024, Expedia Group, Inc. (NASDAQ:EXPE) stock closed at $151.72 per share. One-month return of Expedia Group, Inc. (NASDAQ:EXPE) was 4.64%, and its shares gained 28.69% of their value over the last 52 weeks….