Weitz Investment Management, an investment management firm, released its “Multi-Cap Equity Fund” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The fund’s Institutional Class returned 15.80% in the calendar year compared to +23.81% for the Russell 3000. The fund returned -0.57% for the fourth quarter compared to +2.63% for the index. The fund’s all-cap strategy focuses on investing in businesses of all sizes to broaden opportunities and protect against market leadership shifts. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.

In its fourth quarter 2024 investor letter, Weitz Multi-Cap Equity Fund emphasized stocks such as Liberty Global plc (NASDAQ:LBTYK). Liberty Global plc (NASDAQ:LBTYK) offers broadband internet, video, fixed-line telephony, and mobile communications service. The one-month return of Liberty Global Ltd. (NASDAQ:LBTYK) was 2.39%, and its shares gained 25.23% of their value over the last 52 weeks. On February 26, 2025, Liberty Global Ltd. (NASDAQ:LBTYK) stock closed at $12.01 per share with a market capitalization of $4.089 billion.

Weitz Multi-Cap Equity Fund stated the following regarding Liberty Global Ltd. (NASDAQ:LBTYK) in its Q4 2024 investor letter:

"Liberty Global Ltd. (NASDAQ:LBTYK) completed the spin-off of its Swiss telecom business, Sunrise Communications, to shareholders this quarter. The spin served as a catalyst for investors to take a harder look at the portfolio of assets owned by Liberty and drove strong returns in 2024. At the spin, Sunrise represented nearly half of Liberty Global’s trading value. Between the value spun away, as well as our trims pre- and post-spin, Liberty Global’s portfolio weighting was reduced this quarter. Furthermore, as newly independently Sunrise traded around our base case valuation, we elected to sell our small position."

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Liberty Global Ltd. (NASDAQ:LBTYK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Liberty Global Ltd. (NASDAQ:LBTYK) at the end of the fourth quarter compared to 28 in the third quarter. While we acknowledge the potential of Liberty Global Ltd. (NASDAQ:LBTYK) 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.