Munro Partners, an investment management firm, released its “Munro Global Growth Small & Mid Cap Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the December quarter, the Fund returned 20.9% compared to the MSCI ACWI SMID benchmark return of 8.3%. Global markets’ performance was varied for the quarter when viewed in local terms, with regional disparities in equity market outcomes. The US SMID market showed modest gains, while several other markets, such as those in Europe, Hong Kong, and China, experienced declines. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, Munro Global Growth Small & Mid Cap Fund emphasized stocks such as Reddit, Inc. (NYSE:RDDT). Reddit, Inc. (NYSE:RDDT) operates a digital community that enable users to engage in conversations, explore passions, and research new hobbies. The one-month return of Reddit, Inc. (NYSE:RDDT) was -32.15%, and its shares gained 139.79% of their value over the last 52 weeks. On March 27, 2025, Reddit, Inc. (NYSE:RDDT) stock closed at $110.23 per share with a market capitalization of $19.941 billion.
Munro Global Growth Small & Mid Cap Fund stated the following regarding Reddit, Inc. (NYSE:RDDT) in its Q4 2024 investor letter:
“Key contributors to performance over the quarter were Reddit and AppLovin (see stock story on page 5). Reddit, Inc. (NYSE:RDDT) delivered a strong set of results, demonstrating impressive revenue growth and expanding operating margins. As the world grapples with misinformation and AI-generated content, we continue to view Reddit’s position as a unique platform hosting the largest volume of human conversations globally becoming increasingly valuable.”
A modern computer with a digital shopping mall membership fee showing on the screen.
Reddit, Inc. (NYSE:RDDT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 87 hedge fund portfolios held Reddit, Inc. (NYSE:RDDT) at the end of the fourth quarter compared to 52 in the third quarter. While we acknowledge the potential of Reddit, Inc. (NYSE:RDDT) 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.
We covered Reddit, Inc. (NYSE:RDDT) in another article, where we shared the list of best up and coming stocks to buy according to Wall Street analysts. In addition, please check out our hedge fund investor letters Q4 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.