Investment management company Vulcan Value Partners recently released its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all gained positive returns and outperformed their respective benchmark indexes in the first quarter. The fund’s Large-Cap Composite returned 14.0% net of fees and expenses, the Small Cap Composite returned 8.1% net, the Focus Composite returned 20.4% net, the Focus Plus composite returned 20.4%, and the All-Cap Composite returned 16.8% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners highlighted stocks like Sealed Air Corporation (NYSE:SEE) in the first quarter 2023 investor letter. Headquartered in Charlotte, North Carolina, Sealed Air Corporation (NYSE:SEE) provides packaging solutions that operate through Food and Protective segments. On May 5, 2023, Sealed Air Corporation (NYSE:SEE) stock closed at $42.54 per share. One-month return of Sealed Air Corporation (NYSE:SEE) was -9.24%, and its shares lost 35.15% of their value over the last 52 weeks. Sealed Air Corporation (NYSE:SEE) has a market capitalization of $6.142 billion.
Vulcan Value Partners made the following comment about Sealed Air Corporation (NYSE:SEE) in its Q1 2023 investor letter:
“Sealed Air Corporation (NYSE:SEE) is a global protective packaging company operating in the food and beverage, industrial, and e-commerce markets. The company sells both packaging equipment and consumable packaging. Sealed Air has a strong market position with leading technology and brands. In the food and beverage market, the Cryovac brand is the gold standard for packaging and shipping fresh, uncooked proteins. Food safety is critically important, and customers are willing to pay for quality and reliability. Additionally, switching costs are high and customer relationships are typically sticky and long term in nature. Sealed Air’s brands in e-commerce and industrial include Bubble Wrap and Instapax, and the competitive advantages in these markets are largely similar.”
Sealed Air Corporation (NYSE:SEE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Sealed Air Corporation (NYSE:SEE) at the end of the fourth quarter which was 29 in the previous quarter.
We discussed Sealed Air Corporation (NYSE:SEE) in another article and shared the list of biggest packaging companies in the US. In addition, please check out our hedge fund investor letters Q1 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.
