Alphyn Capital Management, an investment management firm, released its third-quarter 2024 investor letter. A copy of the letter can be downloaded here. The Master Account of the fund returned 8.9% net in the third quarter compared to 5.9% for the S&P500 Index. As of September 30, 2024, the top ten holdings accounted for approximately 71% of the portfolio, and approximately 9% of the portfolio was held in cash. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Alphyn Capital Management highlighted stocks like KKR & Co. Inc. (NYSE:KKR) in the third quarter 2024 investor letter. KKR & Co. Inc. (NYSE:KKR) is an equity and real estate investment firm. The one-month return of KKR & Co. Inc. (NYSE:KKR) was 12.12%, and its shares gained 120.15% of their value over the last 52 weeks. On October 9, 2024, KKR & Co. Inc. (NYSE:KKR) stock closed at $134.95 per share with a market capitalization of $124.425 billion.
Alphyn Capital Management stated the following regarding KKR & Co. Inc. (NYSE:KKR) in its Q3 2024 investor letter:
“KKR continues to deliver strong performance this year. The company has reported an uptick in capital markets activity, which had previously slowed, leading to increased fees from transactions and the potential for more realizations and carried interest as M&A activity resumes.
Additionally, KKR has entered a new fundraising cycle, recently securing a $10 billion first close on its Infrastructure V fund. In recent years, KKR has strategically emphasized infrastructure, credit, and real estate, with its core flagship strategies representing only 6% of total AUM fundraising. Now, the company is refocusing efforts on raising capital for its flagship North American and Asian buyout funds, positioning itself for continued growth in earnings and carried interest moving forward.”
A modern looking financial adviser sitting in front of a trading monitor, gesturing to a group of investors.
KKR & Co. Inc. (NYSE:KKR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 75 hedge fund portfolios held KKR & Co. Inc. (NYSE:KKR) at the end of the second quarter which was 87 in the previous quarter. While we acknowledge the potential of KKR & Co. Inc. (NYSE:KKR) 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 KKR & Co. Inc. (NYSE:KKR) and shared Jim Cramer’s top bullish stock picks. In the previous quarter Alphyn Capital Management shared KKR & Co. Inc.’s (NYSE:KKR) strategic measures to capitalize rising interest rates and penetrate the retail channel. 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.