Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The market leadership shifted abruptly in the third quarter. Small and mid-cap stocks outpaced large caps, while value outperformed growth. Over the past 18 months, growth stocks, especially large and mid caps, have outperformed due to investor interest in artificial intelligence (AI). The Russell 2000® Value Index increased by more than 10%, with positive returns in ten of eleven sectors. Information technology was among the index’s weakest sectors, trailing only energy. The top three sectors are communications services, real estate, and finance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Chartwell Small Cap Value Fund highlighted stocks like Ichor Holdings, Ltd. (NASDAQ:ICHR) in third the quarter 2024 investor letter. Incorporated in 1999, Ichor Holdings, Ltd. (NASDAQ:ICHR) designs and manufactures fluid delivery subsystems for semiconductor capital equipment. The one-month return of Ichor Holdings, Ltd. (NASDAQ:ICHR) was 4.78%, and its shares gained 6.31% of their value over the last 52 weeks. On December 12, 2024, Ichor Holdings, Ltd. (NASDAQ:ICHR) stock closed at $33.35 per share with a market capitalization of $1.125 billion.
Carillon Chartwell Small Cap Value Fund stated the following regarding Ichor Holdings, Ltd. (NASDAQ:ICHR) in its Q3 2024 investor letter:
“Ichor Holdings, Ltd. (NASDAQ:ICHR) designs, engineers, and manufactures fluid delivery subsystems for the semiconductor capital equipment market. Its valuation compressed along with peers as investors anticipated a slower than expected recovery in semiconductor capital equipment spending.”
A close-up of a precision machined component of a fluid delivery subsystem.
Ichor Holdings, Ltd. (NASDAQ:ICHR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Ichor Holdings, Ltd. (NASDAQ:ICHR) at the end of the third quarter which was 18 in the previous quarter. In the third quarter, Ichor Holdings, Ltd. (NASDAQ:ICHR) reported $211 million in revenues, which was above the upper end of company’s guidance range and 7% higher than Q3 2023. While we acknowledge the potential of Ichor Holdings, Ltd. (NASDAQ:ICHR) 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 Ichor Holdings, Ltd. (NASDAQ:ICHR) and shared the list of small publicly traded semiconductor companies 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.
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Disclosure: None. This article is originally published at Insider Monkey.
