Plural Investing LLC, an investment advisor, released its Q1 2025 “Plural Partners Fund L.P” investor letter. A copy of the letter can be downloaded here. The fund reported a gross return of -14.8% and a net return of -15.1% in Q1. The firm aims to deliver returns over five years significantly above that of global markets. The firm invests in companies that are worth substantially more than the price at which they are trading. In addition, please check the fund’s top five holdings to know its best picks in 2025.
In its first-quarter 2025 investor letter, Plural Investing highlighted stocks such as Seaport Entertainment Group Inc. (AMEX:SEG). Seaport Entertainment Group Inc. (AMEX:SEG) develops, owns, and operates a portfolio of entertainment and real estate assets. The one-month return of Seaport Entertainment Group Inc. (AMEX:SEG) was -11.36%, and YTD its shares lost 31.91% of their value. On April 25, 2025, Seaport Entertainment Group Inc. (AMEX:SEG) stock closed at $19.03 per share with a market capitalization of $241.578 million.
Plural Investing stated the following regarding Seaport Entertainment Group Inc. (AMEX:SEG) in its Q1 2025 investor letter:
“Seaport Entertainment Group Inc. (AMEX:SEG) was spun out of Howard Hughes in July 2024 and is a complex group of loss-making properties primarily in Lower Manhattan that Howard Hughes invested $1.5bn into. Seaport trades for a market cap of $230mm and has net cash. Our thesis is that a couple of the stabilized properties are worth the market cap, while the new and aligned management team will be able to turn around several of the other key buildings. We first bought shares in the company at $27, the stock trades at $18 today having declined 31% this year, and we believe intrinsic value in three years will be around $50. We published our 35-page thesis on the company in November here and discussed our latest thesis on a podcast here.
Stagehands setting up the equipment for a live entertainment event.
Seaport Entertainment Group Inc. (AMEX:SEG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 13 hedge fund portfolios held Seaport Entertainment Group Inc. (AMEX:SEG) at the end of the fourth quarter, compared to 15 in the third quarter. Seaport Entertainment Group Inc. (AMEX:SEG) reported total consolidated revenues of $22.8 million for the fourth quarter, which remained mostly unchanged compared to the previous year. While we acknowledge the potential of Seaport Entertainment Group Inc. (AMEX:SEG) 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.
