River Road Asset Management, an investment management company released its “River Road Large Cap Value Select Fund” Q4 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, AMG River Road Large Cap Value Select Fund returned 0.43% compared to (1.98%) return for the Russell 1000® Value Index. For the year 2024, the fund returned 24.59% significantly outperforming Index return of 14.37%. Stocks rallied in November after a Republican victory but declined sharply following hawkish Fed comments. Shorter duration stocks, including small caps and value, lost most of their post-election gains by the end of December. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, River Road Large Cap Value Select Fund emphasized stocks such as LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY). 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 -11.66%, and its shares lost 29.89% of their value over the last 52 weeks. On March 27, 2025, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) stock closed at $126.92 per share with a market capitalization of $320.035 billion.
River Road Large Cap Value Select Fund stated the following regarding LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY) in its Q4 2024 investor letter:
“As of December 31, the portfolio held 29 positions, up four positions from Q3. During Q4, the largest sector increase was 736 bps within industrials, while the largest decrease was -276 bps within consumer discretionary. We established five new positions and eliminated one position
Another new position in Q4 was LVMH Moët Hennessy – Louis Vuitton, Société Européenne (OTC:LVMUY), a global luxury goods company with a portfolio of the world’s most coveted brands. Its products never go on sale. However, its stock is trading at five-year valuation lows, primarily due to concerns over its exposure to the China market and subdued growth in certain segments. The crown jewel of LVMUY, its fashion and leather goods segment, which contributes nearly 75% of earnings before interest and taxes (EBIT), has demonstrated remarkable resilience with an impressive 18% growth rate over the past decade. LVMUY’s financial strength remains robust as it maintains a conservative balance sheet with less than 1x net leverage and consistent free cash flow generation, underpinning its 20-year streak of increasing dividends. We were excited to buy the stock along with legendary Chairman and CEO Bernard Arnault who made several open market purchases in Q4.”
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 30 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 fourth quarter which was 1 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.
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.