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 Matador Resources Company (NYSE:MTDR), in the third quarter 2024 investor letter. Matador Resources Company (NYSE:MTDR) is an independent energy company engages in the exploration, development, production, and acquisition of oil and natural gas resources. The one-month return of Matador Resources Company (NYSE:MTDR) was -3.44%, and its shares gained 1.17% of their value over the last 52 weeks. On December 12, 2024, Matador Resources Company (NYSE:MTDR) stock closed at $56.96 per share with a market capitalization of $7.161 billion.
Carillon Chartwell Small Cap Value Fund stated the following regarding Matador Resources Company (NYSE:MTDR) in its Q3 2024 investor letter:
“Matador Resources Company (NYSE:MTDR) is an oil E&P company focused on the Permian Basin of West Texas and southeastern New Mexico. While fundamental performance remained solid, shares were pressured by lower oil prices.”
A pipeline snaking its way through the hills and valleys of the Delaware Basin.
Matador Resources Company (NYSE:MTDR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Matador Resources Company (NYSE:MTDR) at the end of the third quarter which was 37 in the previous quarter. While we acknowledge the potential of Matador Resources Company (NYSE:MTDR) 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 Matador Resources Company (NYSE:MTDR) and shared TimesSquare Capital U.S. Small Cap Growth Strategy’s views on the company. 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.