The London Company, an investment management company, released “The London Company Mid Cap Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. US markets posted mixed results in 2024. The portfolio fell 5.9% (6%.0 net) during the quarter compared to a 3.4% decrease for the Russell Midcap Index. Both stock selection and sector exposure led the portfolio to lag relative to the index. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
The London Company Mid Cap Strategy highlighted stocks like AerCap Holdings N.V. (NYSE:AER) in the second quarter 2024 investor letter. AerCap Holdings N.V. (NYSE:AER) engages in the lease, financing, sale, and management of flight equipment. The one-month return of AerCap Holdings N.V. (NYSE:AER) was -4.82%, and its shares gained 42.03% of their value over the last 52 weeks. On August 6, 2024, AerCap Holdings N.V. (NYSE:AER) stock closed at $89.38 per share with a market capitalization of $17.443 billion.
The London Company Mid Cap Strategy stated the following regarding AerCap Holdings N.V. (NYSE:AER) in its Q2 2024 investor letter:
“AerCap Holdings N.V. (NYSE:AER) – AER continues to benefit from tight supply/demand conditions in the commercial aircraft market However, we would note this is not unique to AER – companies with exposure to commercial aircraft supply chains/life cycle are generally outperforming. As a result, AER has been selling their older aircrafts at nice gains on book, only to turn around and use those proceeds to buy shares at below book value. Our conviction on AER is founded on its market strength and the stellar management team.”
Aerial view of a modern commercial jetliner in flight, its wings reflecting the setting sun.
AerCap Holdings N.V. (NYSE:AER) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held AerCap Holdings N.V. (NYSE:AER) at the end of the first quarter which was 61 in the previous quarter. AerCap Holdings N.V. (NYSE:AER) reported adjusted net income of $592 million or $3.01 per share and GAAP net income of $448 million or $2.28 per share in the second quarter. While we acknowledge the potential of AerCap Holdings N.V. (NYSE:AER) 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 AerCap Holdings N.V. (NYSE:AER) and shared Middle Coast Investing’s views on the company. In addition, please check out our hedge fund investor letters Q2 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.
