Renaissance Investment Management, an investment management company, released its “Large Cap Growth Strategy” fourth quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 10.53% (net) compared to a 2.20% return for the Russell 1000 Growth Index and a 7.56% return for the S&P 500 Index. The fund declined -16.67% (net) in 2022 compared to -29.14% and -18.11% return for the indexes respectively. Energy and Industrials were the primary contributors to the fund’s performance in the quarter while Consumer Discretionary and Communication Services sectors were the biggest laggards. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Renaissance Large Cap Growth Strategy highlighted stocks like HCA Healthcare, Inc. (NYSE:HCA) in the Q4 2022 investor letter. Headquartered in Nashville, Tennessee, HCA Healthcare, Inc. (NYSE:HCA) is a healthcare services provider. On April 4, 2023, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $267.23 per share. One-month return of HCA Healthcare, Inc. (NYSE:HCA) was 6.28%, and its shares gained 6.69% of their value over the last 52 weeks. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $74.091 billion.
Renaissance Large Cap Growth Strategy made the following comment about HCA Healthcare, Inc. (NYSE:HCA) in its Q4 2022 investor letter:
“Lastly, HCA Healthcare, Inc. (NYSE:HCA) was another contributor. The company is seeing solid improvements in surgical volumes and overall healthcare usage. Meanwhile, labor expenses, which have weighed heavily on operating margins, appear to be reversing as extra headcount brought on to accommodate spikes in patient volumes due to COVID is finally subsiding.”
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HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held HCA Healthcare, Inc. (NYSE:HCA) at the end of the fourth quarter, which was 64 in the previous quarter.
We discussed HCA Healthcare, Inc. (NYSE:HCA) in another article and shared the list of best medical stocks to invest in. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.