The London Company, an investment management company, released “The London Company Mid Cap Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. During 4Q, U.S. equities rose, with most major indices showing positive gains. The portfolio returned 1.8% (-1.8% net) during the quarter compared to a 0.6% increase for the Russell Midcap Index. Both stock selection and sector exposure were headwinds to relative performance of the strategy in the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
In its fourth quarter 2024 investor letter, The London Company Mid Cap Strategy emphasized stocks such as Entegris, Inc. (NASDAQ:ENTG) in the fourth quarter 2024 investor letter. Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) offers materials and process solutions for the semiconductor and other high-technology industries. The one-month return of Entegris, Inc. (NASDAQ:ENTG) was 3.33%, and its shares lost 23.07% of their value over the last 52 weeks. On February 25, 2025, Entegris, Inc. (NASDAQ:ENTG) stock closed at $101.26 per share with a market capitalization of $15.303 billion.
The London Company Mid Cap Strategy stated the following regarding Entegris, Inc. (NASDAQ:ENTG) in its Q4 2024 investor letter:
“Entegris, Inc. (NASDAQ:ENTG) – ENTG underperformed during 4Q due to a more sluggish market recovery, particularly in mainstream and 3D NAND areas, as well as providing a cautious outlook. That said, its solutions for advanced technology and incremental wafer content gains should propel a faster recovery next year. ENTG is one of the most diversified players in the semi-materials industry with its size and scale. We remain attracted to the industry’s high barriers to entry, limited competitors, and high switching costs.”
A technician in a specialized cleanroom suit, preparing a microcontamination control pipeline.
Entegris, Inc. (NASDAQ:ENTG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Entegris, Inc. (NASDAQ:ENTG) at the end of the fourth quarter compared to 42 in the third quarter. While we acknowledge the potential of Entegris, Inc. (NASDAQ:ENTG) 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 Entegris, Inc. (NASDAQ:ENTG) and shared the list of chip stocks in focus amid the tech sector selloff. 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.