Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund (Hedged)” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund returned 6.41% in the third quarter, compared to a 4.67% return for the MSCI ACWI 100% Hedged to AUD net dividends benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Cooper Investors Global Equities Fund (Hedged) highlighted stocks like TKO Group Holdings, Inc. (NYSE:TKO), in the third quarter 2024 investor letter. TKO Group Holdings, Inc. (NYSE:TKO) is a sports and entertainment company. The one-month return of TKO Group Holdings, Inc. (NYSE:TKO) was 6.50%, and its shares gained 64.80% of their value over the last 52 weeks. On October 18, 2024, TKO Group Holdings, Inc. (NYSE:TKO) stock closed at $129.93 per share with a market capitalization of $10.527 billion.
Cooper Investors Global Equities Fund (Hedged) stated the following regarding TKO Group Holdings, Inc. (NYSE:TKO) in its Q3 2024 investor letter:
“During the quarter we established an investment in TKO Group Holdings, Inc. (NYSE:TKO), the owner and operator of the two leading combat sport content assets – the UFC and WWE.
TKO was formed in late 2023 via the merger of UFC and WWE and so the company’s history is a story of the two brands.
The UFC (Ultimate Fighting Championship) is the leading mixed martial arts league. The UFC is 30 years old and was acquired by current president Dana White and his childhood friends in 2001. The brand struggled for much of the first decade of its existence until fortunes changed around 2005 when the first season of ‘The Ultimate Fighter’ reality show aired. This kicked off the evolution of UFC from a niche combat league into a legitimate sport with mainstream and global appeal. An important step in this process was the signing of a landmark deal with Fox Sports in 2011…” (Click here to read the full text)
A diverse and enthusiastic live audience attending a sold out WWE event.
TKO Group Holdings, Inc. (NYSE:TKO) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held TKO Group Holdings, Inc. (NYSE:TKO) at the end of the second quarter which was 41 in the previous quarter. TKO Group Holdings, Inc. (NYSE:TKO) achieved record Q2 revenue of $851 million, with net income of $151 million and adjusted EBITDA of $421 million. While we acknowledge the potential of TKO Group Holdings, Inc. (NYSE:TKO) 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 TKO Group Holdings, Inc. (NYSE:TKO) and shared Carillon Scout Mid Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
