Hardman Johnston Global Advisors, an investment management company, released its “Hardman Johnston Global Equity” fourth quarter 2024, investor letter. A copy of the letter can be downloaded here. The fourth quarter concluded the portfolio’s successful year in comparison to its benchmark index. The strategy returned -0.17%, net of fees, in the quarter, compared to -0.99% return for the MSCI AC World Net Index. From a sector standpoint, the main drivers of the portfolio’s outperformance during the quarter were Industrials and Materials. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Hardman Johnston Global Equity Strategy emphasized stocks such as 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 -2.32%, and its shares gained 9.73% of their value over the last 52 weeks. On March 20, 2025, The Charles Schwab Corporation (NYSE:SCHW) stock closed at $78.57 per share with a market capitalization of $142.492 billion.
Hardman Johnston Global Equity Strategy stated the following regarding The Charles Schwab Corporation (NYSE:SCHW) in its Q4 2024 investor letter:
“During the quarter, we liquidated one position in The Charles Schwab Corporation (NYSE:SCHW). The company faced reduced earnings estimates driven by a number of factors. Worse than expected execution of the Ameritrade acquisition led to customer attrition. Management began to shrink the size of Schwab Bank to reduce the size of the balance sheet and therefore cyclicality, but this also led to reduced EPS. Competition also increased sweep deposit rates, causing Schwab to do the same, impacting margins. All of these issues caused us to reevaluate the stock’s risk-reward profile and liquidate the holding.”
A corporate finance professional studying a financial performance chart.
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’s (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 best bank stocks to buy according to billionaires. The Charles Schwab Corporation (NYSE:SCHW) was Artisan Select Equity Fund’s leading contributor in Q4 2024. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.