Munro Partners, an investment management firm, released its “Munro Global Growth Small & Mid Cap Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the December quarter, the Fund returned 20.9% compared to the MSCI ACWI SMID benchmark return of 8.3%. Global markets’ performance was varied for the quarter when viewed in local terms, with regional disparities in equity market outcomes. The US SMID market showed modest gains, while several other markets, such as those in Europe, Hong Kong, and China, experienced declines. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, Munro Global Growth Small & Mid Cap Fund emphasized stocks such as Wix.com Ltd. (NASDAQ:WIX). Wix.com Ltd. (NASDAQ:WIX) is a global cloud-based web development platform for registered users and creators. The one-month return of Wix.com Ltd. (NASDAQ:WIX) was 12.15%, and its shares gained 21.07% of their value over the last 52 weeks. On March 28, 2025, Wix.com Ltd. (NASDAQ:WIX) stock closed at $166.36 per share with a market capitalization of $9.261 billion.
Munro Global Growth Small & Mid Cap Fund stated the following regarding Wix.com Ltd. (NASDAQ:WIX) in its Q4 2024 investor letter:
“Within the Digital Enterprise Area of Interest (AoI), both Wix and GoDaddy reported strong results for the quarter, with revenue, profit and free cash flows exceeding investors’ expectations. Both web builders’ management teams expressed confidence in their respective continued growth fuelled by new product features powered by AI innovations.”
A close-up of a complex web page being developed and refined by a web development specialist.
Wix.com Ltd. (NASDAQ:WIX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Wix.com Ltd. (NASDAQ:WIX) at the end of the fourth quarter compared to 46 in the third quarter. Wix.com Ltd.’s (NASDAQ:WIX) fourth-quarter revenues reached $460 million, showcasing a 14% year-over-year improvement. While we acknowledge the potential of Wix.com Ltd. (NASDAQ:WIX) 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.
We covered Wix.com Ltd. (NASDAQ:WIX) in another article, where we shared the list of top must-see AI news updates investors should not miss. In addition, please check out our hedge fund investor letters Q4 2024 page for more investor letters from hedge funds and other leading investors.
