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Longleaf Partners, managed by Southeastern Asset Management, has announced the fourth quarter 2023 investor letter for its Partners Fund. You can download a copy of the same here. This year has also been a good year for our foundation. The fund returned 7.99% in the fourth quarter, compared to the S&P’s return of 11.69% and the Russell 1000 Value’s return of 9.50%. The fund’s annual return was 24.49%, while the index’s annual return was 26.29% and 11.46%. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2023.
Longleaf Partners Fund featured stocks like Mattel, Inc. (NASDAQ:MAT) in its Q4 2023 Investor Letter. Mattel, Inc. (NASDAQ:MAT), headquartered in El Segundo, California, is an entertainment company that designs and manufactures toys and consumer products. On January 23, 2024, Mattel Inc. (NASDAQ:MAT) stock closed at $17.82 per share. Mattel Inc. (NASDAQ:MAT)’s 1-month return is -6.16%, and the company’s stock has lost 11.34% of its value over the past 52 weeks. Mattel, Inc. (NASDAQ:MAT) has a market capitalization of $6.295 billion.
Longleaf Partners Fund said the following about Mattel, Inc. (NASDAQ:MAT) in its Q4 2023 investor letter:
“Mattel” (NASDAQ:MAT) – Mattel, the global toy and media company, was the most criticized company this quarter, but its strong second-quarter results on the back of the success of the Barbie movie led to a positive year-to-date. It was a contribution. Mattel reported strong results in the third quarter of 2023, with earnings and revenue exceeding guidance. However, the difficult macro environment led to a weak holiday season, and negative sentiment weighed on the overall toy industry. Mattel benefited from the success of the Barbie movie this year, confirming Inon Kreiz’s plan to monetize the company’s powerful intellectual property. The company repurchased discounted stock during the quarter. ”
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Mattel Inc. (NASDAQ:MAT) isn’t included on this list of 30 most popular stocks among hedge funds. According to our database, 30 hedge fund portfolios owned Mattel Inc. (NASDAQ:MAT) at the end of the third quarter, compared to 24 in the prior quarter.
We covered Mattel Inc. (NASDAQ:MAT) in a separate article and shared Ariel Fund’s take on the company last quarter. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
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