Investment management company Maran Capital Management recently released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. Maran Partners Fund returned +1.0% net of all fees and expenses in the third quarter, which makes the yearly returns +9.0% net. The partnership compounded at a rate greater than 14% annually net, over the past five years, just slightly less than a “five-year double.” In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Maran Capital Management highlighted stocks like Clarus Corporation (NASDAQ:CLAR), in the third quarter 2024 investor letter. Clarus Corporation (NASDAQ:CLAR) develops and manufactures outdoor equipment and lifestyle products. The one-month return of Clarus Corporation (NASDAQ:CLAR) was 0.45%, and its shares lost 23.45% of their value over the last 52 weeks. On November 4, 2024, Clarus Corporation (NASDAQ:CLAR) stock closed at $4.44 per share with a market capitalization of $170.328 million.
Maran Capital Management stated the following regarding Clarus Corporation (NASDAQ:CLAR) in its Q3 2024 investor letter:
“I believe the private market approach that I discussed above provides a useful alternative perspective on Clarus Corporation (NASDAQ:CLAR). Through this lens, we would acknowledge that this is a challenging year for Clarus: the outdoor industry is weak as it moves past a Covid-related pull-forward of demand. But we would also reflect on the fact that Clarus has a large cash balance and no debt. It should generate additional free cash flow this year. Its brands remain strong and are being positioned to reaccelerate in the coming years. Ultimately, I believe the private value of Clarus’s brands is significantly higher than where the stock is currently trading in the public market.
