Alphyn Capital Management, an investment management firm, released its fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. The Master Account of the fund returned 2.6% net in the fourth quarter compared to 2.4% for the S&P500 Index. As of fourth quarter 2024, the top ten holdings accounted for approximately 67% of the portfolio, and approximately 9% of the portfolio was held in cash. Despite the market cooling in December, the fund ended the year with a decent overall performance. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Alphyn Capital Management highlighted stocks like Alphabet Inc. (NASDAQ:GOOG) in its Q4 2024 investor letter. Alphabet Inc. (NASDAQ:GOOG), the parent company of Google, offers various platforms and services operating through Google Services, Google Cloud, and Other Bets segments. The one-month return of Alphabet Inc. (NASDAQ:GOOG) was -2.52%, and its shares gained 33.92% of their value over the last 52 weeks. On January 10, 2025, Alphabet Inc. (NASDAQ:GOOG) stock closed at $193.17 per share with a market capitalization of $2.357 billion.
Alphyn Capital Management stated the following regarding Alphabet Inc. (NASDAQ:GOOG) in its Q4 2024 investor letter:
“Alphabet Inc.’s (NASDAQ:GOOG) recent earnings demonstrated solid financial results and the company’s ability to adapt to shifting technologies, particularly AI. Rather than disrupting Alphabet’s core business as some initially feared, AI is shaping to be a valuable growth driver. Tools like Google Lens and Circle to Search have seen a substantial uptick in user engagement, especially among younger users. Lens alone is now used in over 20 billion visual searches monthly, primarily supporting product discovery and shopping. Additionally, ads within AI-generated search overviews— once seen as a potential risk to traditional search ads—are proving effective in helping connect users with businesses in more targeted ways.
A user’s hands typing a search query into a Google Search box, emphasizing the company’s search capabilities.
Alphabet Inc. (NASDAQ:GOOG) is in 7th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 160 hedge fund portfolios held Alphabet Inc. (NASDAQ:GOOG) at the end of the third quarter which was 165 in the previous quarter. While we acknowledge the potential of Alphabet Inc. (NASDAQ:GOOG) 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 Alphabet Inc. (NASDAQ:GOOG) and shared latest AI news you shouldn’t miss. In addition, please check out our hedge fund investor letters Q4 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.
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