Middle Coast Investing, an investment advisor firm, released its fourth-quarter investor letter. A copy of the letter can be downloaded here . It was a strong quarter for the strategy which outperformed the S&P 500 and the Russell 2000. However, in full year 2024, the strategy beat the Russell 2000, the most relevant benchmark, but trailed the S&P 500, the most important benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Middle Coast Investing highlighted stocks like Levi Strauss & Co. (NYSE: LEVI ), in the fourth quarter 2024 investor letter. Levi Strauss & Co. (NYSE:LEVI) is an apparel manufacturing company that designs and sells apparels and related accessories. The one-month return of Levi Strauss & Co. (NYSE:LEVI) was 2.17%, and its shares gained 9.17% of their value over the last 52 weeks. On January 8, 2025, Levi Strauss & Co. (NYSE:LEVI) stock closed at $17.86 per share with a market capitalization of $7.086 billion.
Middle Coast Investing stated the following regarding Levi Strauss & Co. (NYSE:LEVI) in its Q4 2024 investor letter:
I’ve owned Levi-Strauss (LEVI) briefly before, and am trying again after a ye where its stock nearly doubled from where I bought it, before dropping 30%. This is a small position based on the company’s improving cash flow and balance sheet and the ubiquity of the brand. But it’s also to some degree just a better alternative to cash for one account.
A stylishly dressed man wearing jeans and a jacket from the company, smiling confidently.
Levi Strauss & Co. (NYSE:LEVI) is not on our list of 30 Most Popular Stocks Among Hedge Funds . As per our database, 27 hedge fund portfolios held Levi Strauss & Co. (NYSE:LEVI) at the end of the third quarter which was 27 in the previous quarter. In the third quarter, Levi Strauss & Co.'s (NYSE:LEVI) net revenues increased 2% in constant currency. While we acknowledge the potential of Levi Strauss & Co. (NYSE:LEVI) 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 addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey .