Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Having carried over some of the strength from the previous year into the first quarter, mid-cap stocks reversed course and ended the second quarter at a loss. The Russell Midcap Growth Index (down 3.21%) slightly outperformed the Russell Midcap Value Index (down 3.40%) in the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like Celsius Holdings, Inc. (NASDAQ:CELH), in the second quarter 2024 investor letter. Celsius Holdings, Inc. (NASDAQ:CELH) is a functional drink and liquid supplements manufacturer and distributor. The one-month return of Celsius Holdings, Inc. (NASDAQ:CELH) was -12.45%, and its shares lost 29.96% of their value over the last 52 weeks. On August 19, 2024, Celsius Holdings, Inc. (NASDAQ:CELH) stock closed at $41.56 per share with a market capitalization of $9.686 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding Celsius Holdings, Inc. (NASDAQ:CELH) in its Q2 2024 investor letter:
“Celsius Holdings, Inc. (NASDAQ:CELH) develops, markets, sells, and distributes functional fitness and lifestyle beverages. A consistently strong performer during the past couple of years, the company lagged this quarter as the energy drink industry saw slowing growth for the first time in a while. This industry slowdown coupled with a leading soft-drink company’s continued optimization of Celsius inventory combined to weigh on the stock during the period.”
A hand pouring a cool can of a carbonated non-alcoholic beverage with a smiley face on it.
Celsius Holdings, Inc. (NASDAQ:CELH) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held Celsius Holdings, Inc. (NASDAQ:CELH) at the end of the second quarter which was 34 in the previous quarter. Celsius Holdings, Inc.’s (NASDAQ:CELH) total revenues increased 23% year over year to $402 million in the second quarter and 29% to $757.7 million in the first half of 2024. While we acknowledge the potential of Celsius Holdings, Inc. (NASDAQ:CELH) 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 Celsius Holdings, Inc. (NASDAQ:CELH) and shared Artisan Mid Cap Fund’s views on the company. Celsius Holdings, Inc. (NASDAQ:CELH) rallied during Q1 2024, driven by solid financial results that exceeded expectations. 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.
