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 CrowdStrike Holdings, Inc. (NASDAQ:CRWD), in the second quarter 2024 investor letter. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a global cyber security solutions provider. The one-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was -0.78%, and its shares gained 75.13% of their value over the last 52 weeks. On August 19, 2024, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $266.78 per share with a market capitalization of $64.924 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q2 2024 investor letter:
“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a security software provider, reported strong earnings results, which stood in contrast to some competitors. Strength in endpoint security, cloud security, vulnerability management, and identity protection drove revenue growth and profitability ahead of expectations for the quarter and outlook. The cyber threat environment remains elevated, and it is likely that the rise of artificial intelligence (AI) will make it easier for criminals and threat actors to design and launch sophisticated attacks, increasing the need for CrowdStrike.”
Security personnel at their consoles, monitoring a global network of threats in real-time.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of the second quarter which was 76 in the previous quarter. While we acknowledge the potential of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) 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 CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and shared Cathie Wood’s favorite AI stocks. In Q1 2024, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) contributed to the performance of Carillon Eagle Mid Cap Growth Fund. 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.
