Investment advisory firm Ithaka Group released the “Ithaka US Growth Strategy” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The outstanding gains that the global equity markets witnessed during the year continued in the fourth quarter of 2024. More than any other year in history, the S&P 500 reached 57 new all-time highs. During the quarter, the portfolio returned 8.4% (gross of fees) compared to the R1000G, which increased by 7.1%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Ithaka US Growth Strategy highlighted stocks like ASML Holding N.V. (NASDAQ:ASML) in the fourth quarter 2024 investor letter. ASML Holding N.V. (NASDAQ:ASML) is an advanced semiconductor equipment systems manufacturer for chipmakers. The one-month return of ASML Holding N.V. (NASDAQ:ASML) was 5.63%, and its shares gained 0.77% of their value over the last 52 weeks. On January 16, 2025, ASML Holding N.V. (NASDAQ:ASML) stock closed at $750.28 per share with a market capitalization of $295.01 billion.
Ithaka US Growth Strategy stated the following regarding ASML Holding N.V. (NASDAQ:ASML) in its Q4 2024 investor letter:
“ASML Holding N.V. (NASDAQ:ASML) is a leading supplier of photolithography equipment used in semiconductor manufacturing, enabling the production of microchips at ever-smaller line widths. The company’s cutting-edge technologies, particularly extreme ultraviolet (EUV) lithography, play a critical role in producing the most advanced chips for applications like smartphones, data centers, and AI. ASML’s systems are vital for the semiconductor industry, helping to push the boundaries of Moore’s Law and drive innovation in electronics. Weakness in ASML’s stock was due to their 3Q24 earnings announcement, in which the company posted a weak quarter while also cutting forward guidance. Fears surrounding lithography demand, the China/US trade war, and problems at the major fab plants sent the stock tumbling.”
A technician in a clean room working on a semiconductor device, illuminated by the machines.
ASML Holding N.V. (NASDAQ:ASML) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held ASML Holding N.V. (NASDAQ:ASML) at the end of the third quarter which was 81 in the previous quarter. While we acknowledge the potential of ASML Holding N.V. (NASDAQ:ASML) 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 ASML Holding N.V. (NASDAQ:ASML) and shared the list of best artificial intelligence (AI) stocks to buy according to analysts. 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.