Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The market leadership shifted abruptly in the third quarter. Small and mid-cap stocks 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 by more than 10%, with positive returns in ten of eleven sectors. Information technology was among the index’s weakest sectors, trailing only energy. The top three sectors are communications services, real estate, and finance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Carillon Chartwell Small Cap Value Fund highlighted stocks like Six Flags Entertainment Corporation (NYSE:FUN) in the second quarter of 2024 investor letter. Six Flags Entertainment Corporation (NYSE:FUN) operates amusement resorts consisting of amusement parks, water parks, and resort properties. The one-month return of Six Flags Entertainment Corporation (NYSE:FUN) was 1.44%, and its shares gained 20.17% of their value over the last 52 weeks. On December 12, 2024, Six Flags Entertainment Corporation (NYSE:FUN) stock closed at $46.60 per share with a market capitalization of $4.67 billion.
Carillon Chartwell Small Cap Value Fund stated the following regarding Six Flags Entertainment Corporation (NYSE:FUN) in its Q3 2024 investor letter:
“Six Flags Entertainment Corporation (NYSE:FUN) operates regional theme parks across North America. After strong performance earlier this year prior to its merger with a competitor, shares lagged due to the negative impact of weather on park attendance in the key summer months.”
A family happily enjoying a theme park ride, showing the joy of experiential leisure travel.
Six Flags Entertainment Corporation (NYSE:FUN) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Six Flags Entertainment Corporation (NYSE:FUN) at the end of the third quarter which was 6 in the previous quarter. While we acknowledge the potential of Six Flags Entertainment Corporation (NYSE:FUN) 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 Six Flags Entertainment Corporation (NYSE:FUN) and shared Carillon Chartwell Small Cap Value Fund’s views on the company in the previous quarter. 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.