Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. After experiencing losses in the second quarter, small-cap stocks notably increased in the third quarter. The Russell 2000 Growth Index (up 8.41%) underperformed the Russell 2000 Value Index (up 10.11%). In addition, please check the fund’s top five holdings to know its best picks in 2024.

Carillon Eagle Small Cap Growth Fund highlighted stocks like PJT Partners Inc. (NYSE:PJT), in the third quarter 2024 investor letter. PJT Partners Inc. (NYSE:PJT) is an investment bank that provides advisory-investment solutions. The one-month return of PJT Partners Inc. (NYSE:PJT) was 19.59%, and its shares gained 92.89% of their value over the last 52 weeks. On November 26, 2024, PJT Partners Inc. (NYSE:PJT) stock closed at $165.83 per share with a market capitalization of $6.525 billion.

Carillon Eagle Small Cap Growth Fund stated the following regarding PJT Partners Inc. (NYSE:PJT) in its Q3 2024 investor letter:

"PJT Partners Inc. (NYSE:PJT) is a global advisory-focused boutique investment bank. The company reported a strong quarter well above expectations. The impressive results were driven by continued elevated levels of the bank’s restructuring business as well as its improving strategic advisory business."

A trader on a busy trading floor, his hands on a keyboard as the markets rise.

PJT Partners Inc. (NYSE:PJT) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held PJT Partners Inc. (NYSE:PJT) at the end of the third quarter which was 15 in the previous quarter. While we acknowledge the potential of PJT Partners Inc. (NYSE:PJT) 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 PJT Partners Inc. (NYSE:PJT) and shared Carillon Eagle Small Cap Growth Fund's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.

READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.

Disclosure: None. This article is originally published at Insider Monkey.