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 G General Electric Company (NYSE:GE) in the first quarter 2024 investor letter. Headquartered in Boston, Massachusetts, General Electric Company (NYSE:GE) designs and produces commercial and defense aircraft engines, integrated engine components, electric power, and mechanical aircraft systems. On May 9, 2024, General Electric Company (NYSE:GE) stock closed at $167.50 per share. One-month return of General Electric Company (NYSE:GE) was 8.32%, and its shares gained 112.57% of their value over the last 52 weeks. General Electric Company (NYSE:GE) has a market capitalization of $183.347 billion.
Vulcan Value Partners stated the following regarding General Electric Company (NYSE:GE) in its first quarter 2024 investor letter:
“General Electric Company (NYSE:GE) was a great investment for us. While our value grew materially over our holding period, the company’s stock price grew more quickly than our value. As our margin of safety narrowed, we fully exited our position. General Electric remains on the MVP list, and we would welcome the opportunity to own it again.”
Photo by General Electric Company (NYSE:GE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 92 hedge fund portfolios held General Electric Company (NYSE:GE) at the end of the fourth quarter which was 76 in the previous quarter.
We previously discussed General Electric Company (NYSE:GE) in another article, where we shared the list of best diversified stocks to invest in. General Electric Company (NYSE:GE) was a significant contributor of Vulcan Value Partners during Q1 2023. In addition, please check out our hedge fund investor letters Q1 2024 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.