As the earnings season provides insights into the impact of macroeconomic challenges on companies, industry experts have identified three stocks favored by top analysts for their long-term prospects: Netflix (NFLX), General Motors (GM), and Wingstop (WING). These companies have demonstrated strong performance in their respective sectors and have the potential for continued growth and value creation.
* For the three months ended March 31st, 2024, the Third Avenue Value Fund (the “Fund”) returned 8.58%, as compared to the MSCI World Index 2 , which returned 8.97% 1 .
* The Fund has returned 16.03% and 15.16% annualized over the trailing three- and five-year periods, respectively.
* The Fund’s strong performance in the first quarter was driven by copper mining companies Capstone Copper and Lundin Mining, as well as offshore energy services company Tidewater, Japanese gas flow-control and measurement company HORIBA, and Italian-headquartered global cement company Buzzi.
* The Fund also benefited from strong performances by Jardine Cycle & Carriage, Genting Singapore, Warrior Met Coal, Interfor Corp, and S4 Capital.
* The Fund’s investment philosophy is focused on buying significantly undervalued, well-financed businesses that are run by honest and competent people.
* The Fund typically holds about 30 positions at any given time and holds those positions for about 5 years, on average.
* Many of the Fund’s current holdings are experiencing large and growing shareholder distributions, including Vapores, Quiñenco, Buzzi, BMW, Old Republic, and Subsea7.
* The Fund recently initiated a new position in Harbour Energy plc, an independent oil and gas exploration and production company.
