Delaware Funds by Macquarie, an investment management company, released its “Delaware Ivy Core Equity Fund” Q3 2024 investor letter. A copy of the letter can be downloaded here. The S&P 500® Index rose 5.9% in the third quarter, indicating continuing gains in the US large-cap equity market. Delaware Ivy Core Equity Fund Class I shares outperformed the Fund’s benchmark, the S&P 500 Index in the third quarter. Stock selection drove all of the relative outperformance compared with the Fund’s benchmark, while sector allocation was neutral to relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Delaware Ivy Core Equity Fund highlighted stocks like KKR & Co. Inc. (NYSE:KKR) in the third quarter 2024 investor letter. KKR & Co. Inc. (NYSE:KKR) is an equity and real estate investment firm. The one-month return of KKR & Co. Inc. (NYSE:KKR) was -6.35%, and its shares gained 84.09% of their value over the last 52 weeks. On December 24, 2024, KKR & Co. Inc. (NYSE:KKR) stock closed at $152.52 per share with a market capitalization of $140.745 billion.
Delaware Ivy Core Equity Fund stated the following regarding KKR & Co. Inc. (NYSE:KKR) in its Q3 2024 investor letter:
“KKR & Co. Inc. (NYSE:KKR) – The fifth-largest alternative asset manager by assets under management (AUM) has seen its in valuation catch up with other firms based on accelerated growth and penetration into private credit, infrastructure, and Asian private equity asset classes. The Fed’s pivot toward lower interest rates also benefits alternative managers more broadly as asset pricing and fee revenues improve.”
A modern looking financial adviser sitting in front of a trading monitor, gesturing to a group of investors.
KKR & Co. Inc. (NYSE:KKR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 66 hedge fund portfolios held KKR & Co. Inc. (NYSE:KKR) at the end of the third quarter which was 75 in the previous quarter. While we acknowledge the potential of KKR & Co. Inc. (NYSE:KKR) 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 KKR & Co. Inc. (NYSE:KKR) and shared Montaka Global Investments’ views on the company. KKR was a top performer of RiverPark Large Growth Fund in the third quarter after reporting strong quarterly results. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.