L1 Capital, an investment management firm, published its ‘L1 Long Short Fund Limited’ fourth quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of -1.7% was recorded by the fund for the fourth quarter of 2021, underperforming its S&P ASX 200 AI benchmark by -3.8%. The benchmark meanwhile had a 2.1% gain for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
L1 Capital Long Short Fund Limited, in its Q4 2021 investor letter, mentioned Teck Resources Limited (NYSE: TECK) and discussed its stance on the firm. Teck Resources Limited is a Vancouver, Canada-based mining company with a $19.4 billion market capitalization. TECK delivered a 26.41% return since the beginning of the year, while its 12-month returns are up by 84.83%. The stock closed at $36.43 per share on February 11, 2022.
Here is what L1 Capital Long Short Fund Limited has to say about Teck Resources Limited in its Q4 2021 investor letter:
"Detailed, bottom-up stock research remains the investment team’s primary focus and the core driver of portfolio performance. 2021 once again demonstrated the team’s ability to identify ‘winners’ through extensive company and industry research across a diverse range of sectors. Key contributors included Teck Resources, (due to its) strong operating performance along with rising copper, coking coal and zinc prices. Construction of one of the world’s largest copper mines (QB2) remains on track."
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Our calculations show that Teck Resources Limited (NYSE: TECK) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. TECK was in 41 hedge fund portfolios at the end of the third quarter of 2021, compared to 40 funds in the previous quarter. Teck Resources Limited (NYSE: TECK) delivered a 27.73% 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.