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 Visa Inc. (NYSE:V). Visa Inc. (NYSE:V) is a payment technology company. The one-month return of Visa Inc. (NYSE:V) was -1.11%, and its shares gained 22.90% of their value over the last 52 weeks. On March 6, 2025, Visa Inc. (NYSE:V) stock closed at $344.16 per share with a market capitalization of $672.34 billion.

Conventum – Alluvium Global Fund stated the following regarding Visa Inc. (NYSE:V) in its Q4 2024 investor letter:

"Last quarter we wrote about the credit card companies and the Fund’s latest investment, Visa Inc. (NYSE:V) (up 15.2%). With its strong share price performance, that position had grown to be greater than 5%. As we had discussed here, we consider there to be negligible differences in investment merits when compared to Mastercard (up 6.8%). Whilst Visa appears a little cheaper on traditional price metrics, our view is that Mastercard has marginally higher growth prospects. Irrespective, both are deserving positions in the portfolio, and given their similarities, and the 5/10/40 rule, in order for us to maintain maximum portfolio flexibility it made sense to sell a little Visa and buy a little Mastercard, and their combined position is 6.2%."

A close-up of a modern payments terminal with a pile of credit cards on the side.

Visa Inc. (NYSE:V) is in 6th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 181 hedge fund portfolios held Visa Inc. (NYSE:V) at the end of the fourth quarter which was 165 in the previous quarter. Visa Inc. (NYSE:V) had a strong start to fiscal year 2025 with $9.5 billion in net revenue, up 10% year-over-year, and a 14% increase in EPS. While we acknowledge the potential of Visa Inc. (NYSE:V) 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 Mastercard Incorporated (NYSE:MA) and shared the list of the best Warren Buffett stocks to buy. 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.