Investment management company Vulcan Value Partners recently released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The firm is happy with the first quarter’s outcomes. All of the strategic composites generated positive returns, and many of them outperformed their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 12.0% net of fees and expenses, the Small Cap Composite returned 0.2% net, the Focus Composite returned 12.7% net, the Focus Plus composite returned 12.9%, and the All-Cap Composite returned 6.6% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners featured stocks like Medpace Holdings, Inc. (NASDAQ:MEDP) in the first quarter 2024 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services provider. On May 9, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $399.20 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -0.77%, and its shares gained 90.54% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $12.369 billion.
Vulcan Value Partners stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its first quarter 2024 investor letter:
“Medpace Holdings, Inc. (NASDAQ:MEDP) is a full service, clinical contract research organization. It provides outsourced drug development services to small and mid-sized biotechnology firms. During the quarter, Medpace once again reported strong metrics around new business, revenue, earnings, and free cash flow. The company has a healthy balance sheet with no debt, a growing free cash flow coupon, and a highly aligned management team. Medpace was a material contributor last quarter as well.”
A medical professional in a lab coat discussing with a colleague.
Medpace Holdings, Inc. (NASDAQ:MEDP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Medpace Holdings, Inc. (NASDAQ:MEDP) was held by 38 hedge fund portfolios, compared to 36 in the previous quarter, according to our database.In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
We previously discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article, where we shared ClearBridge Small Cap Growth Strategy’s views on the company. Last quarter also Medpace Holdings, Inc. (NASDAQ:MEDP) was Vulcan Value Partner Significant contributor.
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Disclosure: None. This article is originally published at Insider Monkey.