10 High Growth Non-Tech Stocks That Are Profitable in 2024

2. KKR & Co. Inc. (NYSE:KKR)

5-Year Net Income Growth: 21.00%

5-Year Revenue Growth: 36.17%

TTM Net Income: $ 3.86 Billion

Number of Hedge Fund Holders: 75

KKR & Co. Inc. (NYSE:KKR) is one of the largest alternative asset management companies in the world having more than $578 billion of assets under management (AUM). It operates in three main areas including asset management, insurance, and strategic holdings. In simple terms, the company helps clients invest money wisely across different sectors while also providing insurance products to protect their financial futures.

The most recent quarter, which is the second quarter of 2024 came in with record earnings of $0.84 per share which is the highest in its history, marking a 25% increase from the previous year. Adjusted net income was $1.09 per share, up about 50% year-over-year.

The investment company did well across the board. Its total management fees reached $847 million, a 13% increase compared to the same quarter last year, driven by successful fundraising and deployment activities. Moreover, its capital markets transaction fees were robust at $192 million, benefiting from activities in private equity and infrastructure.

KKR & Co. Inc. (NYSE:KKR) did well in terms of investments as well. The traditional private equity portfolio appreciated by 4% in the quarter and 18% over the past year, while other asset classes like infrastructure and credit also showed positive growth.

The company has also successfully made it to the S&P 500 index recently, which depicts its strong market position. It is one of the high-growth non-tech stocks that are profitable in 2024.

Alphyn Capital Management stated the following regarding KKR & Co. Inc. (NYSE:KKR) in its Q3 2024 investor letter:

“KKR continues to deliver strong performance this year. The company has reported an uptick in capital markets activity, which had previously slowed, leading to increased fees from transactions and the potential for more realizations and carried interest as M&A activity resumes.

Additionally, KKR has entered a new fundraising cycle, recently securing a $10 billion first close on its Infrastructure V fund. In recent years, KKR has strategically emphasized infrastructure, credit, and real estate, with its core flagship strategies representing only 6% of total AUM fundraising. Now, the company is refocusing efforts on raising capital for its flagship North American and Asian buyout funds, positioning itself for continued growth in earnings and carried interest moving forward.”