Investment management company Vulcan Value Partners recently released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In 2024, the US economy was stronger than expected; Large-cap stocks dominated robust U.S. stock markets. Although it remains excessively high, inflation has declined throughout the year. US companies with the largest market capitalization performed better than the broader market. Finally, US stocks outperformed the majority of stocks in non-US markets. In Q4 and 2024, Focus and Focus Plus were the best performing strategies, while Small Cap was the worst performing. However, all strategies generated positive returns for the year. During the quarter, the large-cap compound recorded a net return of -0.1%, net of fees and expenses, the small-cap compound recorded a net return of -7.3%, the Focus compound recorded a net return of 6.3%, the Focus Plus composite returned 7.4% and the all-cap composite returned a net return of -0.1%. -2.5% net. For more information on the fund’s top picks in 2024, please see its top five holdings.
Vulcan Value Partners highlighted stocks like Live Nation Entertainment, Inc. (NYSE:LYV) in the Q4 2024 Investor Letter. Headquartered in Beverly Hills, California, Live Nation Entertainment, Inc. (NYSE:LYV) is a live entertainment company. Live Nation Entertainment, Inc. (NYSE:LYV)’s one-month return was 1.75% and its shares have gained 48.73% of their value over the past 52 weeks. On January 17, 2025, Live Nation Entertainment, Inc. (NYSE:LYV) stock closed at $135.61 per share with a market cap of $31.27 billion.
Vulcan Value Partners stated the following regarding Live Nation Entertainment, Inc. (NYSE:LYV) in its Q4 2024 Investor Letter:
“We sold two positions during the quarter: KKR & Co. Inc. and Live Nation Entertainment, Inc. (NYSE:LYV). We sold Live Nation during the quarter, and that was also a significant contributor. Consumer spending on live entertainment remains exceptionally strong. Despite little or no new developments in the DoJ’s antitrust case against Live Nation, there is hope that the new presidential administration will reach a more favorable solution, including a financial settlement and/or behavioral remedies rather than a complete dissolution from Live Nation and Ticketmaster. . It was a great investment for us. We sold Live Nation to reallocate capital to more highly valued companies. »
A group of people in a large concert hall, enjoying a vibrant concert.
Live Nation Entertainment, Inc. (NYSE:LYV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 44 hedge fund portfolios held Live Nation Entertainment, Inc. (NYSE:LYV) at the end of the third quarter, up from 50 in the previous quarter. While we recognize the potential of Live Nation Entertainment, Inc. (NYSE: LYV) as an investment, our conviction lies in the belief that AI stocks have more promise in terms of higher returns in a shorter period. If you’re looking for an AI stock that’s as promising as NVIDIA but is trading at less than 5x earnings, check out our report on cheapest AI stock.