Mar Vista Investment Partners, LLC, an investment management company, released the “Mar Vista Focus strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the strategy returned +3.74% net of fees compared to +8.34% and +4.28% returns for The Russell 1000 Growth Index and the S&P 500 Index. The strategy’s performance was negatively impacted by the stock selection within the information technology, communication services, and consumer discretionary. Following a robust performance in the first six months, it appears that stocks are poised to enter the second half of the year with strong momentum. The picture is still favorable because of robust corporate profitability, decreasing inflation, and high enterprise spending. Kindly check the top 5 stocks of the strategy to know its best picks in 2024.
Mar Vista Focus strategy highlighted stocks like The Walt Disney Company (NYSE:DIS), in the second quarter 2024 investor letter. The Walt Disney Company (NYSE:DIS) is an entertainment company that operates through Entertainment, Sports, and Experiences segments. The one-month return of The Walt Disney Company (NYSE:DIS) was -0.39%, and its shares gained 9.05% of their value over the last 52 weeks. On August 26, 2024, The Walt Disney Company (NYSE:DIS) stock closed at $91.78 per share with a market capitalization of $166.451 billion.
Mar Vista Focus strategy stated the following regarding The Walt Disney Company (NYSE:DIS) in its Q2 2024 investor letter:
“The Walt Disney Company’s (NYSE:DIS) shares declined after its earnings release, even though the company exceeded recently upgraded financial forecasts. While Disney+ and Hulu reached a milestone by turning their first quarterly profit, the company cautioned about theme park attendance returning to pre-pandemic norms. This signals a deceleration following a period of exceptional growth, impacting the stock as theme parks and experiences account for roughly 60% of Disney’s earnings. Despite broader consumer worries, Disney’s stock is still trading with a significant discount to fair value. We expect the gap between Disney’s market price and its intrinsic value to shrink as its streaming division evolves and increases profitability over time.”
A packed theater of moviegoers watching a blockbuster film produced by the entertainment company.
The Walt Disney Company (NYSE:DIS) is in 31st position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 92 hedge fund portfolios held The Walt Disney Company (NYSE:DIS) at the end of the second quarter which was 92 in the previous quarter. While we acknowledge the potential of The Walt Disney Company (NYSE:DIS) 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 Walt Disney Company (NYSE:DIS) and shared the list of best stocks to buy according to value investor Oldfield Partners. In Q2 2024, The Walt Disney Company (NYSE:DIS) negatively impacted the performance of the Invesco Growth and Income Fund. 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.
