Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter market leadership shifted abruptly. Small and mid-caps outpaced large caps, while value outperformed growth. Over the past 18 months, growth stocks, especially large and mid caps, have outperformed due to investor interest in artificial intelligence (AI). The Russell 2000 Value Index increased more than 10%, with positive returns in ten out of eleven sectors. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Chartwell Mid Cap Value Fund highlighted stocks like Jones Lang LaSalle Incorporated (NYSE:JLL), in the third quarter 2024 investor letter. Jones Lang LaSalle Incorporated (NYSE:JLL) provides real estate and investment management services. The one-month return of Jones Lang LaSalle Incorporated (NYSE:JLL) was 5.14%, and its shares gained 49.58% of their value over the last 52 weeks. On December 12, 2024, Jones Lang LaSalle Incorporated (NYSE:JLL) stock closed at $274.63 per share with a market capitalization of $13.112 billion.
Carillon Chartwell Mid Cap Value Fund stated the following regarding Jones Lang LaSalle Incorporated (NYSE:JLL) in its Q3 2024 investor letter:
“Jones Lang LaSalle Incorporated (NYSE:JLL) is a real estate services firm providing property and facilities management, leasing, and capital markets services. Revenue and earnings growth accelerated, and management raised its guidance outlook for the year.”
A real estate broker discussing options with a customer using digital maps and virtual reality.
Jones Lang LaSalle Incorporated (NYSE:JLL) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held Jones Lang LaSalle Incorporated (NYSE:JLL) at the end of the third quarter which was 21 in the previous quarter. While we acknowledge the potential of Jones Lang LaSalle Incorporated (NYSE:JLL) 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 Jones Lang LaSalle Incorporated (NYSE:JLL) and shared AI news you should not ignore. 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.