Alluvium Asset Management, an asset management company, released its “Conventum – Alluvium Global Fund” fourth-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter, The Fund was up 1.3% in EUR terms and 5.4% in AUD terms but down 5.9% in USD terms. In addition, please check the fund’s top five holdings to know its best picks in 2024.

In its fourth quarter 2024 investor letter, Conventum – Alluvium Global Fund emphasized stocks such as DICK’S Sporting Goods, Inc. (NYSE:DKS). DICK’S Sporting Goods, Inc. (NYSE:DKS) is an omni-channel sporting goods retailer. The one-month return of DICK’S Sporting Goods, Inc. (NYSE:DKS) was -8.21%, and its shares gained 18.54% of their value over the last 52 weeks. On March 6, 2025, DICK’S Sporting Goods, Inc. (NYSE:DKS) stock closed at $214.69 per share with a market capitalization of $17.49 billion.

Conventum – Alluvium Global Fund stated the following regarding DICK’S Sporting Goods, Inc. (NYSE:DKS) in its Q4 2024 investor letter:

"DICK’S Sporting Goods, Inc. (NYSE:DKS) (up 10.2%) again released better than expected results. Management noted that its House of Sport rollout continues to progress well, and upgraded its guidance. There was no change to our analysis. In our view it remains most reasonably priced as it continues to generate very high returns on capital, yet trades at around 16 times earnings. But, taking into account the 5/10/40 Fund holding restrictions, and noting Dick’s had grown to 7.7% of the portfolio, we sold a little. It is now 7.1% of the Fund. We are generally comfortable with this holding, despite our niggling concerns regarding possible tariff changes under the Trump Administration."

A customer in a specialty concept store wearing a full outfit of apparels and sports gear.

DICK’S Sporting Goods, Inc. (NYSE:DKS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 45 hedge fund portfolios held DICK’S Sporting Goods, Inc. (NYSE:DKS) at the end of the fourth quarter compared to 35 in the third quarter. While we acknowledge the potential of DICK’S Sporting Goods, Inc. (NYSE:DKS) 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 DICK’S Sporting Goods, Inc. (NYSE:DKS) and shared the list of best sporting goods stocks to invest in. 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.