Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity” fourth quarter 2024, investor letter. A copy of the letter can be downloaded here. The fourth quarter concluded the portfolio’s successful year in comparison to its benchmark index. The strategy returned -0.17%, net of fees, in the quarter, compared to -0.99% return for the MSCI AC World Net Index. From a sector standpoint, the main drivers of the portfolio’s outperformance during the quarter were Industrials and Materials. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Hardman Johnston Global Equity Strategy emphasized stocks such as Corteva, Inc. (NYSE:CTVA). Corteva, Inc. (NYSE:CTVA) is an agriculture company that operates in Seed and Crop Protection segments. The one-month return Corteva, Inc. (NYSE:CTVA) was -1.48%, and its shares gained 12.28% of their value over the last 52 weeks. On March 20, 2025, Corteva, Inc. (NYSE:CTVA) stock closed at $61.83 per share with a market capitalization of $42.388 billion.
Hardman Johnston Global Equity Strategy stated the following regarding Corteva, Inc. (NYSE:CTVA) in its Q4 2024 investor letter:
“The outperformance in the Materials sector was related to the sole holding within the sector, Corteva, Inc. (NYSE:CTVA). Corteva is a leading global seed and agricultural chemicals leader. During the company’s investor day in November, management highlighted the company’s longer-term growth opportunity, boosting the share price of the stock. We believe that even with the positive stock reaction, guidance incorporated conservative assumptions, namely that the current downturn in agricultural chemicals in Latin America would not improve much. Any improvement in that outlook, which is likely given that we are near the end of the commodity destocking cycle, would provide additional runway for outperformance going forward.”
Corteva, Inc. (NYSE:CTVA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held Corteva, Inc. (NYSE:CTVA) at the end of the fourth quarter which was 33 in the previous quarter. While we acknowledge the potential of Corteva, Inc. (NYSE:CTVA) 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 Corteva, Inc. (NYSE:CTVA) and shared the list of undervalued stocks to invest in according to Goldman Sachs. In addition, please check out our hedge fund investor letters Q4 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.