Munro Partners, an investment management firm, released its “Munro Global Growth Small & Mid Cap Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the December quarter, the Fund returned 20.9% compared to the MSCI ACWI SMID benchmark return of 8.3%. Global markets’ performance was varied for the quarter when viewed in local terms, with regional disparities in equity market outcomes. The US SMID market showed modest gains, while several other markets, such as those in Europe, Hong Kong, and China, experienced declines. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, Munro Global Growth Small & Mid Cap Fund emphasized stocks such as SharkNinja, Inc. (NYSE:SN). SharkNinja, Inc. (NYSE:SN) is a product design and technology company that provides cleaning, cooking, beverage, food preparation, and beauty appliances. The one-month return of SharkNinja, Inc. (NYSE:SN) was -18.77%, and its shares gained 37.04% of their value over the last 52 weeks. On March 27, 2025, SharkNinja, Inc. (NYSE:SN) stock closed at $85.36 per share with a market capitalization of $11.98 billion.
Munro Global Growth Small & Mid Cap Fund stated the following regarding SharkNinja, Inc. (NYSE:SN) in its Q4 2024 investor letter:
“SharkNinja, Inc. (NYSE:SN) contributed -34bps to Fund performance for the quarter. SharkNinja, based in Needham Heights, Massachusetts, is a leading designer and marketer of electrical household appliances.
Originally known for its vacuums and long infomercial advertising across late hours of the night, SharkNinja has transformed itself into a leading household appliance company, continuing to move laterally into new areas of the home. Their proposition is simple, create innovative, best-in-class products at price points that attract all consumer demographics. SharkNinja is the epitome of positive customer perception, one of the six qualitative characteristic traits in Munro’s investment process.
Roughly 12 months ago, fresh off its IPO, SharkNinja remained an undiscovered story, trading at less than 15x earnings. The company had forecasted its revenue to grow by 7-9% in 2024. Fast forward to today, the company is really catching the eye of consumers on a global scale, which has led to a big acceleration in revenue, likely, in our view, to be over 30% for 2024 when the company reports its result in mid-February.…” (Click here to read the full text)
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SharkNinja, Inc. (NYSE:SN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 63 hedge fund portfolios held SharkNinja, Inc. (NYSE:SN) at the end of the fourth quarter compared to 56 in the third quarter. In the fourth quarter, SharkNinja, Inc. (NYSE:SN) generated $1.8 billion in net sales, up 30% year-over-year. While we acknowledge the potential of SharkNinja, Inc. (NYSE:SN) 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.
We covered SharkNinja, Inc. (NYSE:SN) in another article, where we shared best up and coming stocks to buy according to Wall Street analysts. Artisan Small Cap Fund reduced its position in SharkNinja, Inc. (NYSE:SN) in Q4 2024, because of elevated valuation expectations and a more matured investment thesis. 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.