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 General Electric Company (NYSE:GE) in the first quarter 2023 investor letter. Headquartered in Boston, Massachusetts, General Electric Company (NYSE:GE) is a high-tech industrial company. On May 4, 2023, General Electric Company (NYSE:GE) stock closed at $99.32 per share. One-month return of General Electric Company (NYSE:GE) was 6.11%, and its shares gained 62.70% of their value over the last 52 weeks. General Electric Company (NYSE:GE) has a market capitalization of $108.287 billion.
Vulcan Value Partners made the following comment about General Electric Company (NYSE:GE) in its Q1 2023 investor letter:
“General Electric Company (NYSE:GE) was a material contributor during the quarter. With the successful spin-off of GE HealthCare in early January, the company operates in two major markets: GE Aerospace and GE Vernova. GE Aerospace powers three out of every four commercial flights. GE Vernova helps generate 30% of the world’s electricity and has a meaningful role to play in the energy transition. The company’s service activities, which are higher margin and more resilient, represent approximately 60% of revenue and 85% of its backlog. The company reported strong fourth quarter 2022 results and management’s 2023 outlook is positive.”
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General Electric Company (NYSE:GE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 59 hedge fund portfolios held General Electric Company (NYSE:GE) at the end of the fourth quarter which was 53 in the previous quarter.
We discussed General Electric Company (NYSE:GE) in another article and shared the list of most acquisitive public 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.
