Artisan Partners, an investment management company, released its “Artisan Global Opportunities Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. US equities experienced significant gains in Q4, showcasing a strong year. The portfolio showed slight weakness in Q4 but posted a strong absolute return in 2024. In the fourth quarter, the fund’s Investor Class ARTRX returned -1.67%, Advisor Class APDRX posted a return of -1.65% and Institutional Class APHRX returned -1.62%, compared to a -0.99% return for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Artisan Global Opportunities Fund emphasized stocks such as GE Vernova Inc. (NYSE:GEV). GE Vernova Inc. (NYSE:GEV) is an energy company that offers products and services that generate, transfer, orchestrate, convert, and store electricity. The one-month return GE Vernova Inc. (NYSE:GEV) was 12.82%, and its shares gained 162.41% of their value over the last 52 weeks. On April 2, 2025, GE Vernova Inc. (NYSE:GEV) stock closed at $330.80 per share with a market capitalization of $90.423 billion.
Artisan Global Opportunities Fund stated the following regarding GE Vernova Inc. (NYSE:GEV) in its Q4 2024 investor letter:
“Notable adds in the quarter included GE Vernova Inc. (NYSE:GEV) and Oracle. GE Vernova is the power, wind and electrification spinoff from the former GE conglomerate. The company benefits from large global market shares across its businesses, high barriers to entry and a substantial installed base that generates multiyear service revenue streams. Now that the company is standing on its own, we believe it is in the early innings of a turnaround story while benefiting from an attractive underlying demand environment. As the world continues to decarbonize, the resulting need for power, wind and electrification equipment is poised to drive attractive growth over the coming years. Our work on AI data center growth and electrification implications strengthened our conviction in GE Vernova in the quarter, particularly its natural gas business, which we believe will need to act as a bridge fuel as technology companies try to balance AI data center growth with decarbonization targets.”
GE Vernova Inc. (NYSE:GEV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 111 hedge fund portfolios held GE Vernova Inc. (NYSE:GEV) at the end of the fourth quarter which was 89 in the previous quarter. While we acknowledge the potential of GE Vernova Inc. (NYSE:GEV) 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 GE Vernova Inc. (NYSE:GEV) in another article, where we shared AI news and ratings making waves on Wall Street. 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.