Investment management company Vulcan Value Partners recently released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. In 2024, the US economy was stronger than expected; the large-cap stocks led the robust U.S. equities markets. Although it is still excessively high, inflation did decrease throughout the course of the year. The largest market cap U.S. Companies performed better than the whole market. Lastly, U.S. stocks outperformed the majority of equities in non-U.S. markets. During Q4 and 2024, Focus and Focus Plus were the best performing strategies while Small Cap was the worst performing. However, all strategies had positive returns for the year. In the quarter, the Large Cap Composite returned -0.1% net of fees and expenses, the Small Cap Composite returned -7.3% net, the Focus Composite returned 6.3% net, the Focus Plus composite returned 7.4% and the All-Cap Composite returned -2.5% net. For more information on the fund’s best picks in 2024, please check its top five holdings.
Vulcan Value Partners highlighted stocks like Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter 2024 investor letter. Headquartered in Beverly Hills, California, Live Nation Entertainment, Inc. (NYSE:LYV) is a live entertainment company. The one-month return of Live Nation Entertainment, Inc. (NYSE:LYV) was 1.75%, and its shares gained 48.73% of their value over the last 52 weeks. On January 17, 2025, Live Nation Entertainment, Inc. (NYSE:LYV) stock closed at $135.61 per share with a market capitalization of $31.27 billion.
Vulcan Value Partners stated the following regarding Live Nation Entertainment, Inc. (NYSE:LYV) in its Q4 2024 investor letter:
“We sold two positions during the quarter: KKR & Co. Inc. and Live Nation Entertainment, Inc. (NYSE:LYV). We sold Live Nation during the quarter, and it was also a material contributor. Consumer spending on live entertainment remains exceptionally strong. Despite little to no new developments on the DoJ’s antitrust case against Live Nation, there is hope that the new presidential administration will lead to a more favorable remedy, including a financial settlement and/or behavioral remedies rather than a full breakup of Live Nation and Ticketmaster. It was a great investment for us. We sold Live Nation to reallocate capital into more discounted companies.”
A group of people in a large music venue, enjoying a vibrant concert.
Live Nation Entertainment, Inc. (NYSE:LYV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Live Nation Entertainment, Inc. (NYSE:LYV) at the end of the third quarter which was 50 in the previous quarter. While we acknowledge the potential of Live Nation Entertainment, Inc. (NYSE:LYV) 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 Live Nation Entertainment, Inc. (NYSE:LYV) and shared billionaire Daniel Sundheim’s top stock picks heading into 2025. 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.