Polen Capital, an investment management company, released its “Polen Global Growth Strategy” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. During the second quarter, AI remained the dominant narrative in markets. The Strategy returned -1.63% gross (-1.91% net) compared to the MSCI ACW Index’s 2.87% return. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Polen Global Growth Strategy highlighted stocks like LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY), in the second quarter 2024 investor letter. LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) is a luxury goods company. The one-month return of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) was -5.91%, and its shares lost 22.17% of their value over the last 52 weeks. On July 26, 2024, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) stock closed at $144.28per share with a market capitalization of $360.371 billion.
Polen Global Growth Strategy stated the following regarding LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) in its Q2 2024 investor letter:
“We trimmed LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) from 2.6% to 1%. We think that after a period of excellent business performance, the business should see slower growth in revenues and margins over the next few years. While a portion of their demand is certainly durable due to its luxury positioning, it will still likely prove more cyclical in an economic downturn. Given its current prospective high single-digit/low double-digit EPS growth profile (which will likely be high in a downturn), we thought it was more prudent to allocate this capital to a business with more safety-like characteristics in Zoetis. However, we kept a 1% position in LVMH because we believe it remains a phenomenal business with durable advantages that are hard to replicate. We hope to own more of it someday when the business fundamentals and valuation are a more attractive combination, all things considered.”
A stunning jewelry display with diamonds and gold, highlighting the company’s commitment to quality.
LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) at the end of the first quarter which was 2 in the previous quarter. While we acknowledge the potential of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) 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.
IWe discussed LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) in another article and shared the list of ‘Super 7’ European Stocks Jim Cramer likes. 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.
