Reasons for the Outperformance of FTAI Aviation (FTAI) in Q4
Tourlite Capital Management, an investment management firm, released its fourth quarter 2023 investor letter, a copy of which can be downloaded here. Tourlite Fund, LP Founder Class returned 1.1% for Q4 2023 and 8.8% for the year. Since its inception in April 2022, the fund returned 14.3% compared to 8.4%, and 0.5% returns for the S&P 500 and Russell 2000 indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Tourlite Capital Management featured stocks such as FTAI Aviation Ltd. (NASDAQ:FTAI) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, FTAI Aviation Ltd. (NASDAQ:FTAI) acquires and manages transportation infrastructure and equipment that operates through Aviation Leasing and Aerospace Products. On February 14, 2024, FTAI Aviation Ltd. (NASDAQ:FTAI) stock closed at $54.04 per share. One-month return of FTAI Aviation Ltd. (NASDAQ:FTAI) was 9.15%, and its shares gained 120.30% of their value over the last 52 weeks. FTAI Aviation Ltd. (NASDAQ:FTAI) has a market capitalization of $5.417 billion.
Tourlite Capital Management stated the following regarding FTAI Aviation Ltd. (NASDAQ:FTAI) in its fourth quarter 2023 investor letter:
"FTAI Aviation Ltd. (NASDAQ:FTAI) has been a significant positive contributor to the fund in 2023. Our initial position was based on the belief that FTAI was undervalued for a couple of reasons. Firstly, its structure as a partnership limited ownership by funds and indexes, and FTAI has since simplified its structure as a C-Corp. Secondly, the spin-off of its infrastructure business simplified FTAI as a pureplay aviation business. Over the past year, the aviation segment saw a meaningful inflection in business fundamentals and FTAI's modular factory continued to prove as a time-efficient and low-cost solution. With repeated customers and plans for growth, along with the introduction of PMA parts, FTAI's aerospace segment is expected to witness significant cash flow growth."
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FTAI Aviation Ltd. (NASDAQ:FTAI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held FTAI Aviation Ltd. (NASDAQ:FTAI) at the end of third quarter which was 33 in the previous quarter.
We discussed FTAI Aviation Ltd. (NASDAQ:FTAI) in another article and shared Tourlite Capital's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.
