Delaware Funds by Macquarie, an investment management company, released its “Delaware Ivy Core Equity Fund” Q3 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500® Index rose 5.9% in the third quarter, indicating continuing gains in the US large-cap equity market. Delaware Ivy Core Equity Fund Class I shares outperformed the Fund’s benchmark, the S&P 500 Index in the third quarter. Stock selection drove all of the relative outperformance compared with the Fund’s benchmark, while sector allocation was neutral to relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Delaware Ivy Core Equity Fund highlighted stocks like Fiserv, Inc. (NYSE:FI), in the third quarter 2024 investor letter. Fiserv, Inc. (NYSE:FI) is a payment and financial services technology services provider. The one-month return of Fiserv, Inc. (NYSE:FI) was -4.83%, and its shares gained 58.30% of their value over the last 52 weeks. On December 26, 2024, Fiserv, Inc. (NYSE:FI) stock closed at $210.29 per share with a market capitalization of $119.638 billion.
Delaware Ivy Core Equity Fund stated the following regarding Fiserv, Inc. (NYSE:FI) in its Q3 2024 investor letter:
“Fiserv, Inc. (NYSE:FI) – Solid revenue and profitability trends drove price appreciation during the quarter. The payments-processing and bank technology company remains a reasonably valued alternative to capitalize on digital conversion of payments and technology migration in the banking industry.”
A businessperson checking their laptop, highlighting the company’s integration of technology across its banking and financial services.
Fiserv, Inc. (NYSE:FI) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 71 hedge fund portfolios held Fiserv, Inc. (NYSE:FI) at the end of the third quarter which was 73 in the previous quarter. In the third quarter, Fiserv announced impressive financial results, reporting adjusted earnings per share of $2.30, which marks a substantial increase of 17%, fueled by robust revenue growth and further improvements in operating margins across its various businesses. While we acknowledge the potential of Fiserv, Inc. (NYSE:FI) 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 Fiserv, Inc. (NYSE:FI) and shared the list of best digital currency and payments stocks to invest in. The London Company Large Cap Strategy expressed its belief in Fiserv, Inc.’s (NYSE:FI) continued growth in its Q3 2024 investor letter. In addition, please check out our hedge fund investor letters Q3 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.