Madison Investments, an investment advisor, released its “Madison Mid Cap Fund” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund (Class Y) declined 4.30% compared to a 3.35% decrease for the Russell Midcap Index. The Fund returned 4.91%, in the year-to-date six months, compared to 4.96% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Madison Mid Cap Fund highlighted stocks like Carlisle Companies Incorporated (NYSE:CSL) in the second quarter 2024 investor letter. Headquartered in Scottsdale, Arizona, Carlisle Companies Incorporated (NYSE:CSL) manufactures and supplies building envelope products and solutions. The one-month return of Carlisle Companies Incorporated (NYSE:CSL) was 2.88%, and its shares gained 59.00% of their value over the last 52 weeks. On July 22, 2024, Carlisle Companies Incorporated (NYSE:CSL) stock closed at $427.37 per share with a market capitalization of $20.344 billion.
Madison Mid Cap Fund stated the following regarding Carlisle Companies Incorporated (NYSE:CSL) in its Q2 2024 investor letter:
“We trimmed our positions in Arista Networks and Carlisle Companies Incorporated (NYSE:CSL). Both of these companies have witnessed strong multi-year growth in their stock prices, which have resulted in elevated valuations. While we remain confident in the long-term prospects of both of these businesses, we trimmed our holdings to more appropriate position sizes given the risk/reward offered.”
A close-up of a technician assembling a complex wiring harness for a building product.
Carlisle Companies Incorporated (NYSE:CSL) is not on our list of 31 Most Popular Stocks Among Hedge Funds. Carlisle Companies Incorporated (NYSE:CSL) was held by 36 hedge fund portfolios at the end of the first quarter, compared to 35 in the previous quarter, according to our database. The first quarter sales of Carlisle Companies Incorporated (NYSE:CSL) were $1.1 billion, a 23% year-over-year increase. While we acknowledge the potential of Carlisle Companies Incorporated (NYSE:CSL) 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 Carlisle Companies Incorporated (NYSE:CSL) and shared the list of best plastics and rubber stocks to buy. 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.
