Ithaka US Growth Strategy’s Q2 2024 Investor Letter

Investment advisory firm Ithaka Group released the “Ithaka US Growth Strategy” second-quarter 2024 investor letter. The second quarter of 2024 saw a surge in optimism among global markets, driven by the anticipation of a looser monetary policy from the Federal Reserve and the ongoing development prospects presented by artificial intelligence (AI). This positive outlook increased the S&P 500 by 4.3% for the quarter and 15.3% for the year, the Russell 1000 Growth (“R1000G”) by 8.3% for the quarter and 21.7% for the year, and the Dow decreasing by 1.7% for the quarter and increasing by 3.7% for the year. In the second quarter, the portfolio underperformed and returned 4.2% (gross of fees) compared to the Russell 1000 Growth’s (R1G) 8.3% return. Stock Selection led the portfolio to underperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of Ithaka US Growth Strategy’s Q2 2024 investor letter can be downloaded here.