Riverwater Partners, an investment management company, released its “Sustainable Value Strategy” Q4 2024 investor letter. A copy of the letter can be downloaded here. The strategy outperformed its benchmark, the Russell 2500 Value Index, over the past year. The relative outperformance was mainly driven by positive stock selection while allocation effect also contributed positively. The strategy also outperformed its benchmark in Q4. Both the allocation impact and the selection effect contributed equally to the relative positive returns. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Riverwater Partners Sustainable Value Strategy highlighted stocks like Charles River Laboratories International, Inc. (NYSE:CRL) in the fourth quarter 2024 investor letter. Charles River Laboratories International, Inc. (NYSE:CRL) offers drug discovery, non-clinical development, and safety testing services that operate through Research Models and Services (RMS), Discovery and Safety Assessment (DSA), and Manufacturing Solutions (Manufacturing) segments. The one-month return of Charles River Laboratories International, Inc. (NYSE:CRL) was -11.99%, and its shares lost 22.89% of their value over the last 52 weeks. On January 17, 2025, Charles River Laboratories International, Inc. (NYSE:CRL) stock closed at $163.50 per share with a market capitalization of $8.361 billion.
Riverwater Partners Sustainable Value Strategy stated the following regarding Charles River Laboratories International, Inc. (NYSE:CRL) in its Q4 2024 investor letter:
“Five holdings were sold in the quarter. The other two sales were Evercore (EVR) and Charles River Laboratories International, Inc. (NYSE:CRL). We also parted ways with Charles River after having owned it since 2017. We trimmed Charles River over the years and sold our last toehold at a significant gain from our original cost basis.”
A laboratory scientist surrounded by drug-discovery equipment and resources.
Charles River Laboratories International, Inc. (NYSE:CRL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Charles River Laboratories International, Inc. (NYSE:CRL) at the end of the third quarter which was 42 in the previous quarter. In the third quarter, Charles River Laboratories International, Inc. (NYSE:CRL) reported $1.01 billion in revenues, a 1.6% decline on a reported basis over last year. While we acknowledge the potential of Charles River Laboratories International, Inc. (NYSE:CRL) 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 Charles River Laboratories International, Inc. (NYSE:CRL) and shared Brown Capital Management Mid Company Fund’s views on the company in the previous quarter. 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.