The London Company Income Equity Q3 2024 Portfolio Commentary

Nov. 29, 2024 10:20 PM ETPGR, LOW, SBUX, SCHW, MRK, MSFT, TEL
(9min)

Summary

  • U.S. equities traded higher during Q3 with most of the major indices posting mid single-digit gains.
  • The London Company Income Equity portfolio gained 10.5% (10.4% net) during the quarter vs. a 9.4% increase in the Russell 1000 Value Index.
  • We were encouraged to see the Income Equity portfolio protected on the downside amidst the volatility and market drawdown while staying ahead of its benchmark during the market’s sharp recovery.

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Income Equity - 3Q2024 vs Russell 1000 Value - Market Update

U.S. equities traded higher during Q3 with most of the major indices posting mid single-digit gains. The quarter was marked by significant market shifts, including inflation cooling, employment weakening, volatility spiking, and a larger-than-expected

This article was written by

Founded in 1994 in Richmond, VA, The London Company is a majority employee-owned firm managing $32B in assets* across the capitalization spectrum. We apply a singular investment approach with a team-based decision-making process. *Includes model program assets (UMA) of $16B as of 6/30/2024. Subject to change. This material is not financial advice or an offer to sell any product. The information provided in this report should not be considered a recommendation to purchase or sell any particular security. Past performance is not indicative of future results. By following others on Twitter or LinkedIn, The London Company (“London”) does not make or imply an endorsement. By clicking on links to third-party sites, you will leave London’s page and property. London is not responsible for the content or services offered on linked websites. Use linked websites at your own risk. Carefully review the site's terms of service and privacy rules as they apply to you. Opinions or recommendations on any linked websites are those of independent providers and do not imply a recommendation from London, which is not responsible for inaccuracies or errors. Individuals affiliated with London, and the views and opinions expressed, are their own and are subject to change with market conditions and are not meant as investment advice. The London Company, LLC disclaims any responsibility or liability for any errors, omissions, losses or damages claimed or incurred due to any The London Company's associate's postings on social media. Note: This account is not managed or monitored by The London Company, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use the firm's official channels.

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