Here’s Why White Brook Capital is Holding The Mosaic Company (MOS) Despite Headwinds
White Brook Capital Partners, an investment management firm, released its second-quarter 2023 investor letter. The same can be downloaded here. In the second quarter, the fund returned 16.09% compared to the Midcap 400 Index’s 4.85% and the S&P 500 Index’s 8.74% returns. Year-to-date, the fund’s NAV increased by 13.37% (net) compared to an 8.85% and 16.89% increase for the benchmarks, respectively. Year-to-date, the top contributing sectors of the portfolio were industrials and financial services while materials and consumer discretionary detracted. In addition, please check the fund’s top five holdings to know its best picks in 2023.
White Brook Capital Partners highlighted stocks like The Mosaic Company (NYSE:MOS) in the second quarter 2023 investor letter. Headquartered in Tampa, Florida, The Mosaic Company (NYSE:MOS) is a crop nutrient manufacturer. On July 20, 2023, The Mosaic Company (NYSE:MOS) stock closed at $38.64 per share. One-month return of The Mosaic Company (NYSE:MOS) was 12.95%, and its shares lost 18.89% of their value over the last 52 weeks. The Mosaic Company (NYSE:MOS) has a market capitalization of $12.833 billion.
White Brook Capital Partners made the following comment about The Mosaic Company (NYSE:MOS) in its second quarter 2023 investor letter:
"The Mosaic Company (NYSE:MOS): Mosaic has been a significant disappointment through the first 6 months. El Nino historically has distorted their markets, and that has been true this year as well. Additionally, a labor dispute at the port in Canada may depress earnings for the rest of the year. I still expect cash flow to be strong this year and their share buyback to be effective in creating value as free cash flow growth reemerges next year. "
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The Mosaic Company (NYSE:MOS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held The Mosaic Company (NYSE:MOS) at the end of first quarter 2023 which was 47 in the previous quarter.
We discussed The Mosaic Company (NYSE:MOS) in another article and shared White Brook Capital Partners' views on the company. In addition, please check out our hedge fund investor letters Q2 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.
