Baird Asset Management controlled Chautauqua Capital Management, a boutique investment firm, released the “Baird Chautauqua International and Global Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The third quarter saw a significant rally in global equities markets, driven by robust stock performance from the U.S., international developed, and emerging markets. The Baird Chautauqua International Growth Fund Net Investor Class returned +9.46% in the third quarter, outperforming the MSCI ACWI ex-U.S. Index® ND, which returned +8.06%. The Baird Chautauqua Global Growth Fund Net Investor Class returned +5.25% compared to a +6.61% return for the MSCI ACWI Index® ND. In addition, please check the fund’s top five holdings to know its best picks in 2024.

Baird Chautauqua International and Global Growth Fund highlighted stocks like KE Holdings Inc. (NYSE:BEKE) in the third quarter 2024 investor letter. KE Holdings Inc. (NYSE:BEKE) operates an integrated online and offline platform for housing transactions and services. The one-month return of KE Holdings Inc. (NYSE:BEKE) was 54.16%, and its shares gained 27.12% of their value over the last 52 weeks. On October 9, 2024, KE Holdings Inc. (NYSE:BEKE) stock closed at $21.61 per share with a market capitalization of $24.737 billion.

Baird Chautauqua International and Global Growth Fund stated the following regarding KE Holdings Inc. (NYSE:BEKE) in its Q3 2024 investor letter:

"KE Holdings Inc. (NYSE:BEKE) reported better-than-expected results this year, but its valuation was depressed due to pessimism toward the property market in China. Recently announced stimulus measures in China and specific measures for its property market have somewhat reduced the extreme pessimism seen earlier in the year."

Aerial shot of a modern real estate development with residential homes.

KE Holdings Inc. (NYSE:BEKE) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held KE Holdings Inc. (NYSE:BEKE) at the end of the second quarter which was 42 in the previous quarter. While we acknowledge the potential of KE Holdings Inc. (NYSE:BEKE) 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 KE Holdings Inc. (NYSE:BEKE) and shared the list of best beginner stocks to buy for investing in the real estate sector. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.