Weitz Investment Management, an investment management firm, published its “Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. In its letter, the fund mentioned that it knows very little in economics, politics, and investor psychology is predictable. The fund believes, though, that business value is (roughly) measurable and that it (eventually) exerts a gravitational pull on a company’s stock price. According to Weitz Investment, when confidence is shaken and markets are volatile, active managers have the raw material they need to add value for investors. We’re looking forward to an interesting year. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Weitz Investment Management, in its Q4 2021 investor letter, mentioned The Liberty SiriusXM Group (NASDAQ: LSXMA) and discussed its stance on the firm. The Liberty SiriusXM Group is an Englewood, Colorado-based media company with a $16.7 billion market capitalization. LSXMA delivered a -9.05% return since the beginning of the year, while its 12-month returns are up by 12.28%. The stock closed at $45.17 per share on January 31, 2022.
Here is what Weitz Investment Management, Inc. has to say about The Liberty SiriusXM Group in its Q4 2021 investor letter:
"Another Liberty company, Liberty SiriusXM, owns over 80% of SiriusXM Satellite Radio. We believe that SiriusXM is undervalued and that the Liberty SiriusXM structure allows us to own the company at a discount. Both Charter Communications and SiriusXM are growing nicely, generating prodigious amounts of free cash flow and buying back lots of their own stock. John Malone controls both of these Liberty securities, and we believe he will find ways to close the discounts and extract maximum value for shareholders. Both Liberty securities were stock market duds in 2021, but we expect them to be contributors in 2022 regardless of what the general market does."
Our calculations show that The Liberty SiriusXM Group (NASDAQ: LSXMA) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. LSXMA was in 44 hedge fund portfolios at the end of the third quarter of 2021, compared to 43 funds in the previous quarter. The Liberty SiriusXM Group (NASDAQ: LSXMA) delivered a -8.92% return in the past 3 months.
You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.