Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. Mid-cap stocks experienced mixed results in the fourth quarter after reporting positive gains in the previous quarter. The Russell Midcap Growth Index (up 8.14%) outperformed the Russell Midcap Value Index (fell 1.75%) during the quarter. Mid-cap stocks posted solid returns in 2024 similar to 2023. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like LPL Financial Holdings Inc. (NASDAQ:LPLA) in the fourth quarter 2024 investor letter. Based in San Diego, California, LPL Financial Holdings Inc. (NASDAQ:LPLA) is an integrated platform provider of brokerage and investment advisory services. The one-month return of LPL Financial Holdings Inc. (NASDAQ:LPLA) was 9.70%, and its shares gained 49.75% of their value over the last 52 weeks. On January 28, 2024, LPL Financial Holdings Inc. (NASDAQ:LPLA) stock closed at $358.18 per share with a market capitalization of $26.82 billion.

Carillon Eagle Mid Cap Growth Fund stated the following regarding LPL Financial Holdings Inc. (NASDAQ:LPLA) in its Q4 2024 investor letter:

"LPL Financial Holdings Inc. (NASDAQ:LPLA) is an independent broker-dealer that offers technology, brokerage, and investment advisory services to financial advisors and financial institutions. The stock performed well due to very strong organic net new business as well as improving cash sweep market dynamics. A higher interest rate environment also benefitted the company."

An experienced financial advisor discussing investment options with a client.

LPL Financial Holdings Inc. (NASDAQ:LPLA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 51 hedge fund portfolios held LPL Financial Holdings Inc. (NASDAQ:LPLA) at the end of the third quarter which was 51 in the previous quarter. In the third quarter, LPL Financial Holdings Inc.’s (NASDAQ:LPLA) total assets increased to $1.6 trillion and its organic net new assets increased 7% on an annualized basis to $27 billion. While we acknowledge the potential of LPL Financial Holdings Inc. (NASDAQ:LPLA) 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 LPL Financial Holdings Inc. (NASDAQ:LPLA) and shared Baron FinTech Fund's views on the company in the previous quarter. 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.