Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500 Index increased by 2.4% in Q4, reaching a 25.0% gain in 2024. The past two years have been the best for the stock market since the 1990s, with AI excitement driving returns and strong earnings growth. The market’s on-going multiple expansion—the S&P 500 Index currently has its highest multiple this century, excluding COVID years—accounted for about half of 2024’s returns, with the other half coming from robust earnings growth. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
In its fourth quarter 2024 investor letter, Carillon Eagle Growth & Income Fund emphasized stocks such as Goldman Sachs Group, Inc. (NYSE:GS). Founded in 1869, The Goldman Sachs Group, Inc. (NYSE:GS) is a financial institution that operates through Global Banking & Markets, Asset & Wealth Management, and Platform Solutions segments. The one-month return of The Goldman Sachs Group, Inc. (NYSE:GS) was -17.98%, and its shares gained 41.86% of their value over the last 52 weeks. On March 17, 2025, The Goldman Sachs Group, Inc. (NYSE:GS) stock closed at $551.34 per share with a market capitalization of $171.351 billion.
Carillon Eagle Growth & Income Fund stated the following regarding The Goldman Sachs Group, Inc. (NYSE:GS) in its Q4 2024 investor letter:
“The Goldman Sachs Group, Inc. (NYSE:GS) contributed to performance due to renewed optimism for deregulation and increased capital markets activity in the wake of the U.S. presidential election. This company can benefit directly from increased mergers and acquisitions (M&A) activity, and the incoming presidential administration is generally expected to be more permissive with M&A transactions.”
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The Goldman Sachs Group, Inc. (NYSE:GS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 81 hedge fund portfolios held The Goldman Sachs Group, Inc. (NYSE:GS) at the end of the fourth quarter compared to 72 in the third quarter. The Goldman Sachs Group, Inc. (NYSE:GS) reported net revenues of $13.9 billion EPS of $11.95, and ROE of 14.6% and ROTE of 15.5% in the fourth quarter of 2024. While we acknowledge the potential of The Goldman Sachs Group, Inc. (NYSE:GS) 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 The Goldman Sachs Group, Inc. (NYSE:GS) and shared the list of most profitable value stocks to buy. 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.