Mar Vista Investment Partners, LLC, an investment management company, released the “Strategic Growth Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500 Index recorded a 15.29% gain in the first half of 2024, marking one of its best performances since the late 1990s tech bubble. However, it was still slightly below the remarkable start of 2023. In the second quarter, the strategy returned +2.36% net-of-fees compared to +8.34% and +4.28% returns for The Russell 1000 Growth Index and the S&P 500 Index. Following a robust performance in the first six months, it appears that stocks are poised to enter the year’s second half with strong momentum. The picture is still favorable because of robust corporate profitability, decreasing inflation, and high enterprise spending. Kindly check the top 5 stocks of the strategy to know its best picks in 2024.
Mar Vista Strategic Growth Strategy highlighted stocks like Amphenol Corporation (NYSE:APH), in the second quarter 2024 investor letter. Amphenol Corporation (NYSE:APH) designs and manufactures electrical, electronic, and fiber optic connectors. The one-month return of Amphenol Corporation (NYSE:APH) was 7.62%, and its shares gained 51.66% of their value over the last 52 weeks. On August 26, 2024, Amphenol Corporation (NYSE:APH) stock closed at $66.66 per share with a market capitalization of $80.278 billion.
Mar Vista Strategic Growth Strategy stated the following regarding Amphenol Corporation (NYSE:APH) in its Q2 2024 investor letter:
“As a leading supplier in the global interconnect and sensor market, Amphenol Corporation (NYSE:APH) benefits from a tailwind of demand as things become smarter and more connected. Amphenol’s unique entrepreneurial culture, savvy capital allocation and diverse end-market exposure have allowed it to deliver market-leading operating margins and strong returns on invested capital. We believe Amphenol should continue to deliver robust returns as it integrates and optimizes its meaningful acquisition of Carlisle Interconnect Technologies, and benefits from the build out of next-generation AI factories providing critical interconnect solutions.”
A team of technicians assembling a complex electrical connector in a factory environment.
Amphenol Corporation (NYSE:APH) is not on our list of 31 Most Popular Stocks Among Hedge Funds. Amphenol Corporation (NYSE:APH) was held by 72 hedge fund portfolios at the end of the second quarter, compared to 51 in the previous quarter, according to our database. The second quarter results of Amphenol Corporation (NYSE:APH) exceeded expectations with remarkable sales of $3.61 billion, representing an 18% increase in US dollars compared to Q2 2023. While we acknowledge the potential of Amphenol Corporation (NYSE:APH) 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 Amphenol Corporation (NYSE:APH) and shared the list of most important AI companies you should pay attention to. Amphenol Corporation (NYSE:APH) made a significant contribution to the performance of The London Company Mid Cap Strategy in Q2 2024. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
