Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” second quarter 2024 investor letter. A copy of the letter can be downloaded here. Small-cap stocks were unable to sustain the positive gains made in the first quarter and finished the second quarter in negative territory. Among the style indexes, the Russell 2000® Growth Index outperformed the Russell 2000® Value Index by a modest margin, with a decrease of 2.92% compared to a decrease of 3.75%. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Eagle Small Cap Growth Fund highlighted stocks like Abercrombie & Fitch Co. (NYSE:ANF), in the second quarter 2024 investor letter. Abercrombie & Fitch Co. (NYSE:ANF) is an omnichannel retailer that offers an assortment of apparel, personal care products, and accessories. The one-month return of Abercrombie & Fitch Co. (NYSE:ANF) was -2.78%, and its shares gained 157.32% of their value over the last 52 weeks. On August 28, 2024, Abercrombie & Fitch Co. (NYSE:ANF) stock closed at $138.31 per share with a market capitalization of $7.068 billion.
Carillon Eagle Small Cap Growth Fund stated the following regarding Abercrombie & Fitch Co. (NYSE:ANF) in its Q2 2024 investor letter:
“Abercrombie & Fitch Co. (NYSE:ANF) is a global multi-brand omnichannel specialty retailer that offers a broad assortment of apparel, personal care products, and accessories for men, women and kids. The stock was a strong performer during the quarter following an impressive earnings report that exceeded expectations and raised guidance amid a rough patch for the retail industry. The management team has made powerful strides in reenergizing the brand and transforming the concept to a different and larger audience.”
A close-up of a customer trying on a piece of apparel in the retailer’s spacious dressing room, emphasizing the company’s focus on personal care and experience.
Abercrombie & Fitch Co. (NYSE:ANF) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held Abercrombie & Fitch Co. (NYSE:ANF) at the end of the second quarter which was 46 in the previous quarter. While we acknowledge the potential of Abercrombie & Fitch Co. (NYSE:ANF) 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 Abercrombie & Fitch Co. (NYSE:ANF) and shared the list of best retail stocks to buy. 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.
