JDP Capital Management, an investment management company, released its fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. 2024 proved to be an excellent year for the market and an even more impressive one for the fund. In the fourth quarter, the fund generated a gain of 10.4%, resulting in a total return of 47.9% for the year, net of fees for investors. In comparison, the S&P 500 recorded a 2.4% increase in the fourth quarter and a 25% rise for the entire year, assuming dividends were reinvested back into the index. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, JDP Capital Management emphasized stocks such as Spotify Technology S.A. (NYSE:SPOT). Headquartered in Luxembourg City, Luxembourg, Spotify Technology S.A. (NYSE:SPOT) offers audio streaming subscription services. The one-month return of Spotify Technology S.A. (NYSE:SPOT) was -5.84%, and its shares gained 104.03% of their value over the last 52 weeks. On March 31, 2025, Spotify Technology S.A. (NYSE:SPOT) stock closed at $550.03 per share with a market capitalization of $114.873 billion.
JDP Capital Management stated the following regarding Spotify Technology S.A. (NYSE:SPOT) in its Q4 2024 investor letter:
“Spotify Technology S.A. (NYSE:SPOT) was up 148% in 2024 and was our largest contributor to full-year performance for a second year in a row. After bottoming in 2022, SPOT has risen almost 500%.4 Although we trimmed the position in June 2024 to help fund a full position in Tesla, Spotify remains our largest holding.
A person wearing headphones listening to an audio streaming service.
Spotify Technology S.A. (NYSE:SPOT) is in 25th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 101 hedge fund portfolios held Spotify Technology S.A. (NYSE:SPOT) at the end of the fourth quarter compared to 98 in the third quarter. While we acknowledge the potential of Spotify Technology S.A. (NYSE:SPOT) 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.
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