<div id="readability-page-1">Merion Road Capital Management, an investment advisor, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, Merion Road Small Cap Fund had a good performance and returned 5.5% bringing 2024 returns to +17.4%. This compared to 0.3% return for the Russell 2000 Index in the quarter and an 11.4% return in 2024. The long-only portfolio of Merion Road rose 9.0% during the quarter, bringing the 2024 returns to 32.4%. This compared to S&amp;P 500’s 2.5% and 24.9% returns for the same periods. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024. Merion Road Capital Management highlighted stocks like Summit Materials, Inc. (NYSE:SUM), in the fourth quarter 2024 investor letter. Summit Materials, Inc. (NYSE:SUM) is a vertically integrated construction materials company. The one-month return of Summit Materials, Inc. (NYSE:SUM) was 0.36%, and its shares gained 44.12% of their value over the last 52 weeks. On February 3, 2024, Summit Materials, Inc. (NYSE:SUM) stock closed at $52.33 per share with a market capitalization of $9.204 billion. Merion Road Capital Management stated the following regarding Summit Materials, Inc. (NYSE:SUM) in its Q4 2024 investor letter: <blockquote> In my 2024 year-end letter I discussed our investment in Summit Materials, Inc. (NYSE:SUM). The company agreed to sell themselves in November at a price of $52.50/share, 37.5% above the prior year-end level. I sold some stock into to the news announcement as discussions were leaked ahead of time and the return profile became less attractive. I decided to hold the rest of our stock as a merger arb position (with the benefit of deferring taxes a year). </blockquote> <div id="attachment_1238614"><img src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2023/12/16053423/MCEM-insidermonkey-1702722861565-768x430.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc3MDE2MzIwMCZmaXQ9Y2xpcCZoZWlnaHQ9MjY5JndpZHRoPTQ4MA?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" width="830" height="465" original-src="https://imageproxy.pbkrs.com/https://imonkey-blog.imgix.net/blog/wp-content/uploads/2023/12/16053423/MCEM-insidermonkey-1702722861565-768x430.jpg/query-YXV0bz1mb3J0bWF0JmV4cGlyZXM9MTc3MDE2MzIwMCZmaXQ9Y2xpcCZoZWlnaHQ9MjY5JndpZHRoPTQ4MA"/>A construction site featuring a large concrete foundation poured by the cement manufacturing company.</div> Summit Materials, Inc. (NYSE:SUM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Summit Materials, Inc. (NYSE:SUM) at the end of the third quarter which was 24 in the previous quarter. While we acknowledge the potential of Summit Materials, Inc. (NYSE:SUM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. In another article, we discussed Summit Materials, Inc. (NYSE:SUM) and shared Aristotle Small Cap Equity Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. 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Summit材料

Merion Road Capital Management 的 2024 年第四季度投資者信函強調了其強勁的表現，小型股基金回報率為 5.5% 和 17.4%，超越了羅素 2000 指數。該公司持有 Summit Materials（紐約證券交易所代碼：SUM），其過去一年上漲了 44.12%。儘管宣佈以每股 52.50 美元進行合併，Merion Road 決定保留部分股份以獲得税收遞延的好處，同時對人工智能股票表現出更強的興趣，以尋求更高的回報。Summit Materials 並不在前 30 大對沖基金的最愛中，截至 2024 年第三季度，有 23 家基金持有該股票

Here’s Why Merion Road Capital Decided to Hold Summit Materials (SUM)

以下是 Merion Road Capital 決定持有 Summit 材料（Summit Materials，股票代碼 SUM）的原因