Bonhoeffer Capital’s At Home (HOME) Case Study
Bonhoeffer Capital Management, a value-oriented investment management firm, published its fourth-quarter 2020 Investor Letter – a copy of which can be downloaded here. A net return of 20% was recorded by the fund for the fourth quarter of 2020, outperforming its MSCI World benchmark that delivered a 15.9% return. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Bonhoeffer Capital Management, in their Q4 2020 investor letter, said that At Home Group Inc. (NYSE: HOME)’s current opportunity for organic growth is high. At Home Group Inc. is a home decor company based in Plano, Texas, that offers furniture, housewares, and related materials. It currently has a $1.6 billion market capitalization. Since the beginning of the year, HOME delivered a 58.21% return, massively extending its 12-month gains to 459.73%. As of March 5, the stock closed at $24.46 per share.
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