Here’s What Makes Builders FirstSource (BLDR) a Great Investment Choice
Bonhoeffer Capital Management, an investment management firm, released its first quarter 2023 investor letter, a copy of which can be downloaded here. In its first quarter letter, the fund mentioned its main country exposures are South Korea, the United States, the United Kingdom, South Africa, the Philippines, and Latin America. Notably, the fund has significant industry exposures in telecom/media, real estate/infrastructure, and consumer products. The fund is targeting sectors within the chemicals, leasing, distributors, housing, and specialty finance sectors. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023.
In its Q1 2023 investor letter, Bonhoeffer Capital Management mentioned Builders FirstSource, Inc. (NASDAQ:BLDR) and explained its insights for the company. Founded in 1998, Builders FirstSource, Inc. (NASDAQ:BLDR) is a Dallas, Texas-based millwork company with a $16.3 billion market capitalization. Builders FirstSource, Inc. (NASDAQ:BLDR) delivered a 96.55% return since the beginning of the year, while its 12-month returns are up by 141.52%. The stock closed at $127.52 per share on June 23, 2023.
Here is what Bonhoeffer Capital Management has to say about Builders FirstSource, Inc. (NASDAQ:BLDR) in its Q1 2023 investor letter:
"The pricing of our real estate holdings is positively impacted by the re-opening of China and Hong Kong from COVID restrictions and its effects on Hong Kong’s tourism from China. The current cement and construction holdings in US/Europe via Builders FirstSource (NASDAQ:BLDR) should do well as the world recovers from COVID shutdowns and governments worldwide incentivize infrastructure programs."
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Our calculations show that Builders FirstSource, Inc. (NASDAQ:BLDR) was not able to secure a spot on our list of the 30 Most Popular Stocks Among Hedge Funds. Builders FirstSource, Inc. (NASDAQ:BLDR) was in 51 hedge fund portfolios at the end of the first quarter of 2023, compared to 52 funds in the previous quarter. Builders FirstSource, Inc. (NASDAQ:BLDR) delivered a 50.98% return in the past 3 months.
Earlier this year, we also discussed Builders FirstSource, Inc. (NASDAQ:BLDR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q1 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
