Investment management company Maran Capital Management recently released its second-quarter 2024 investor letter. A copy of the letter can be downloaded here. Maran Partners Fund returned +4.4% in the second quarter, net of all fees and expenses, which makes the yearly returns +7.9%, net. The partnership compounded at a rate greater than 13% annually, net, over the past five years. In addition, you can check the fund's top 5 holdings to determine its best picks for 2024.

Maran Capital Management highlighted stocks like Clarus Corporation (NASDAQ:CLAR), in the second quarter 2024 investor letter. Clarus Corporation (NASDAQ:CLAR) develops and manufactures outdoor equipment and lifestyle products. The one-month return of Clarus Corporation (NASDAQ:CLAR) was 0.67%, and its shares lost 39.15% of their value over the last 52 weeks. On September 13, 2024, Clarus Corporation (NASDAQ:CLAR) stock closed at $4.5000 per share with a market capitalization of $172.63 million.

Maran Capital Management stated the following regarding Clarus Corporation (NASDAQ:CLAR) in its Q2 2024 investor letter:

"I have discussed Clarus Corporation (NASDAQ:CLAR) at length in recent letters. While the consumer remains weak, Clarus is working to strengthen its brands with new hires, reduced SKUs, and improved structural margins. Some of these things will take time to show up in the numbers.

A hiker in a forest with a backpack of outdoor equipment highlighting the company's lifestyle products.

Clarus Corporation (NASDAQ:CLAR) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Clarus Corporation (NASDAQ:CLAR) at the end of the second quarter which was 13 in the previous quarter. Clarus Corporation's (NASDAQ:CLAR) second-quarter revenue of $56.5 million, fell short of its projected range of $58 million to $62 million. However, the company's first-half 2024 revenue of $125.8 million remains aligned with its initial forecast of $125 million. While we acknowledge the potential of Clarus Corporation (NASDAQ:CLAR) 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.