Investment management company Vulcan Value Partners recently released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. All five investing strategies outperformed their respective benchmarks and produced strong double-digit annual returns that were far higher than inflation. Additionally, the firm is happy with the fourth quarter’s outcomes. All of the investment strategies produced double-digit returns and all of them except Small Cap beat their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 18.4% net of fees and expenses, the Small Cap Composite returned 13.0% net, the Focus Composite returned 20.0% net, the Focus Plus composite returned 19.8% (net), and the All-Cap Composite returned 18.5% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners featured stocks such as Virtus Investment Partners, Inc. (NASDAQ:VRTS) in the fourth quarter 2023 investor letter. Based in Hartford, Connecticut, Virtus Investment Partners, Inc. (NASDAQ:VRTS) is an investment management company. On January 17, 2024, Virtus Investment Partners, Inc. (NASDAQ:VRTS) stock closed at $229.29 per share. One-month return of Virtus Investment Partners, Inc. (NASDAQ:VRTS) was -2.64%, and its shares gained 8.22% of their value over the last 52 weeks. Virtus Investment Partners, Inc. (NASDAQ:VRTS) has a market capitalization of $1.647 billion.
Vulcan Value Partners stated the following regarding Virtus Investment Partners, Inc. (NASDAQ:VRTS) in its fourth quarter 2023 investor letter:
“Virtus Investment Partners, Inc. (NASDAQ:VRTS) had a strong quarter. Its AUM increased by a low-single-digit percentage from September 30 to November 30. Net fee rates have remained stable. The company continues to do a good job diversifying its distribution. Virtus has a very strong balance sheet and does an excellent job converting net income into free cash flow. We feel the market continues to underappreciate Virtus’ value.”
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Virtus Investment Partners, Inc. (NASDAQ:VRTS) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Virtus Investment Partners, Inc. (NASDAQ:VRTS) at the end of third quarter which was 10 in the previous quarter.
We discussed Virtus Investment Partners, Inc. (NASDAQ:VRTS) in another article and shared Gator Capital Management’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.