Longleaf Partners, managed by Southeastern Asset Management, released its “Partners Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Fund had a good year this time. The fund returned 7.99% in the fourth quarter, compared to S&P’s 11.69% return and Russell 1000 Value’s 9.50% return. The fund had 24.49% yearly returns compared to 26.29% and 11.46 % returns for the indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Longleaf Partners Fund featured stocks such as General Electric Company (NYSE:GE) in the fourth quarter 2023 investor letter. Headquartered in Boston, Massachusetts, General Electric Company (NYSE:GE) is a high-tech industrial company. On January 23, 2024, General Electric Company (NYSE:GE) stock closed at $129.95 per share. One-month return of General Electric Company (NYSE:GE) was 1.37%, and its shares gained 60.85% of their value over the last 52 weeks. General Electric Company (NYSE:GE) has a market capitalization of $141.436 billion.
Longleaf Partners Fund stated the following regarding General Electric Company (NYSE:GE) in its fourth quarter 2023 investor letter:
“General Electric Company (NYSE:GE) – Industrial conglomerate General Electric (GE) was the top performer for the year. We exited this multi-year investment as its price went above our appraisal. In 1Q23, GE spun out GE Healthcare, which we sold as it traded at our value. The share price continued its strong performance throughout the spring and summer, and we ultimately sold the position in the third quarter when we no longer saw a margin of safety for the business. CEO Larry Culp was a great partner who created significant value for shareholders by reducing leverage, cutting costs, streamlining operations, improving company culture and simplifying the structure with plans to split the company into three businesses. We hope to have the opportunity to partner with him again in the future.”
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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, 76 hedge fund portfolios held General Electric Company (NYSE:GE) at the end of third quarter which was 71 in the previous quarter.
We discussed General Electric Company (NYSE:GE) in another article and shared Jim Cramer’s best dividend stocks. 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.
