The London Company, an investment management company, released “The London Company Mid Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Q4 saw a remarkable broadening of market strength, with small and mid-cap companies posting robust increases. In Q4, the fund gained 12.9% (12.8, net) vs a 12.8% gain for the Russell Midcap Index. Positive stock selection boosted the fund’s outperformance in the quarter, partly offset by headwinds from sector exposure. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Mid Cap Strategy featured stocks such as Copart, Inc. (NASDAQ:CPRT) in the fourth quarter 2023 investor letter. Headquartered in Dallas, Texas, Copart, Inc. (NASDAQ:CPRT) is an online auction and vehicle remarketing services providing company. On February 7, 2024, Copart, Inc. (NASDAQ:CPRT) stock closed at $50.85 per share. One-month return of Copart, Inc. (NASDAQ:CPRT) was 6.34%, and its shares gained 46.92% of their value over the last 52 weeks. Copart, Inc. (NASDAQ:CPRT) has a market capitalization of $48.828 billion.
The London Company Mid Cap Strategy stated the following regarding Copart, Inc. (NASDAQ:CPRT) in its fourth quarter 2023 investor letter:
“Reduced: Copart, Inc. (NASDAQ:CPRT) – Reduction reflects the strong rally in CPRT over many years, including a >60% return YTD. Following the recent rally, the market cap of CPRT is approaching $50B, which is at the upper end of the range for the Mid Cap portfolio.”
A line of used vehicles in a spacious lot, ready to be sold at an auction.
Copart, Inc. (NASDAQ:CPRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Copart, Inc. (NASDAQ:CPRT) at the end of third quarter which was 46 in the previous quarter.
In another article, we mentioned Copart, Inc. (NASDAQ:CPRT) and shared Jim Cramer’s list of recommended stocks, stating that a recession is unlikely. 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.