Artisan Partners, an investment management company, released its “Artisan Select Equity Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The fourth quarter delivered another record-breaking performance for US tech equities. The fund’s Investor Class ARTNX, Advisor Class APDNX, and Institutional Class APHNX returned -1.36%, -1.32%, and -1.33% respectively, in the fourth quarter compared to a 2.41% return for the S&P500 Index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Artisan Select Equity Fund emphasized stocks such as The Charles Schwab Corporation (NYSE:SCHW). The Charles Schwab Corporation (NYSE:SCHW) is a savings and loan holding company that offers wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The one-month return of The Charles Schwab Corporation (NYSE:SCHW) was -3.89%, and its shares gained 17.58% of their value over the last 52 weeks. On February 28, 2025, The Charles Schwab Corporation (NYSE:SCHW) stock closed at $79.53 per share with a market capitalization of $144.233 billion.
Artisan Select Equity Fund stated the following regarding The Charles Schwab Corporation (NYSE:SCHW) in its Q4 2024 investor letter:
“The Charles Schwab Corporation’s (NYSE:SCHW) share price recovered after a weak Q3 performance. Recall that Schwab’s economics have been pressured by higher interest rates, which incented account holders to move their cash off Schwab’s balance sheet and into higher yielding securities. This cash Exodus has been a major headwind to Schwab’s earnings power. The company’s most recent disclosures show that the balance sheet cash trends have stabilized, signalling that this headwind might turn into a tailwind. We believe it will.”
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The Charles Schwab Corporation (NYSE:SCHW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 91 hedge fund portfolios held The Charles Schwab Corporation (NYSE:SCHW) at the end of the fourth quarter compared to 74 in the third quarter. The Charles Schwab Corporation (NYSE:SCHW) 2024 revenue increased by 4% year-over-year to $19.6 billion. While we acknowledge the potential of The Charles Schwab Corporation (NYSE:SCHW) 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 Charles Schwab Corporation (NYSE:SCHW) and shared the list of undervalued wide moat stocks to buy according to 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.