Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced a notable improvement in the third quarter after incurring losses in the second quarter. The Russell Midcap Growth Index (up 6.54%) underperformed the Russell Midcap Value Index (up 10.08%) during the quarter. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Carillon Eagle Mid Cap Growth Fund highlighted stocks like CrowdStrike Holdings, Inc. (NASDAQ:CRWD), in the third quarter 2024 investor letter. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a global cyber security solutions provider. The one-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was 18.94%, and its shares gained 69.73% of their value over the last 52 weeks. On November 21, 2024, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $357.55 per share with a market capitalization of $87.645 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q3 2024 investor letter:
“CrowdStrike Holdings, Inc. (NASDAQ:CRWD), a leading security software provider, reported strong earnings results. However, a faulty configuration update caused an outage affecting a widely used line of operating systems, leading to significant disruptions across multiple industries. CrowdStrike worked to make things right with customers by helping them fix the problems and offering discounts for expansion deals, and generally received positive feedback from customers for its transparency and accountability. We believe that the company’s technology leadership and customer expansion efforts will result in strong earnings growth after the discounts expire.”
Security personnel at their consoles, monitoring a global network of threats in real-time.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 74 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of the third quarter which was 69 in the previous quarter. While we acknowledge the potential of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) 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 CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and shared the list of AI news making waves. In addition, please check out our hedge fund investor letters Q3 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.