Polen Capital, an investment management company, released its “Polen Global Growth Strategy” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. Over the past two years, global equities (2023-2024) showed a historic +45% cumulative return as per the MSCI ACWI Index (the "Index"), emphasizing market unpredictability and the futility of macroeconomic projections. The Strategy returned 2.58% gross (2.27% net) in the quarter compared to the MSCI ACW Index’s -0.99% return. In addition, please check the fund’s top five holdings to know its best picks in 2024.

In its fourth quarter 2024 investor letter, Polen Global Growth Strategy emphasized stocks such as L’Oréal S.A. (OTC:LRLCY). Headquartered in Clichy, France, L’Oréal S.A. (OTC:LRLCY) is a global cosmetic company. The one-month return of L’Oréal S.A. (OTC:LRLCY) was 13.05%, and its shares lost 16.98% of their value over the last 52 weeks.  On March 18, 2025, L’Oréal S.A. (OTC:LRLCY) stock closed at $78.71 per share with a market capitalization of $211.289 billion.

Polen Global Growth Strategy stated the following regarding L’Oréal S.A. (OTC:LRLCY) in its Q4 2024 investor letter:

"The largest absolute detractors were ICON pic, Novo Nordisk, and L’Oréal S.A. (OTC:LRLCY). L'Oreal was among the largest absolute detractors, delivering weaker-than-expected top-line growth amid continued weakness in China. Without normalization in China, earnings growth will be pressured near term. That said, we expect that headwind to lift in, due time and continue to have a positive view on the beauty category for its resilient characteristics and L'Oreal, specifically, for its well-diversified portfolio."

A beautiful model wearing head-to-toe make-up and hair styling products from the company.

L’Oréal S.A. (OTC:LRLCY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 1 hedge fund portfolios held L’Oréal S.A. (OTC:LRLCY) at the end of the fourth quarter compared to 2 in the third quarter. While we acknowledge the potential of L’Oréal S.A. (OTC:LRLCY) 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 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.