TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” third-quarter investor letter. A copy of the letter can be downloaded here. Within equities, smaller or value-oriented stocks in developed economies yielded higher, whereas emerging markets saw the opposite trend. In the third quarter, the strategy returned 4.96% (gross) and 4.75% (net) while the Russell Midcap Growth Index returned 6.54%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital U.S. Mid Cap Growth Strategy highlighted stocks like Cheniere Energy, Inc. (NYSE:LNG), in the third quarter 2024 investor letter. Cheniere Energy, Inc. (NYSE:LNG) is an energy infrastructure company, that primarily focuses on liquefied natural gas (LNG) related businesses. The one-month return of Cheniere Energy, Inc. (NYSE:LNG) was 3.28%, and its shares gained 28.34% of their value over the last 52 weeks. On December 6, 2024, Cheniere Energy, Inc. (NYSE:LNG) stock closed at $221.93 per share with a market capitalization of $49.793 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Cheniere Energy, Inc. (NYSE:LNG) in its Q3 2024 investor letter:
“We often see the ebb and flow of the Energy sector tied to underlying commodity prices. In this area, we seek low-cost exploration & production companies with high-yielding acreage or specialized service providers. Cheniere Energy, Inc. (NYSE:LNG) operates liquefied natural gas terminals in New Orleans and Corpus Christi. Second quarter results were largely as expected and forward guidance was increased. Management’s comments featured the timely completion of maintenance at both facilities as well as optimization efficiencies. That boosted the stock by 3%.”
Close-up of a liquefied natural gas terminal expelling plumes of smoke.
Cheniere Energy, Inc. (NYSE:LNG) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held Cheniere Energy, Inc. (NYSE:LNG) at the end of the third quarter which was 65 in the previous quarter. While we acknowledge the potential of Cheniere Energy, Inc. (NYSE:LNG) 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 Cheniere Energy, Inc. (NYSE:LNG) and shared the list of best fuel stocks to buy. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.