Vltava Fund, an investment management company, recently released its fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. 2023 proved to be a prosperous year for the fund. The letter concentrates on outlining the more noteworthy changes that have occurred within the businesses that the fund owns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
In its Q4 2023 investor letter, Vltava Fund featured stocks such as Laboratory Corporation of America Holdings (NYSE:LH). Headquartered in Burlington, North Carolina, Laboratory Corporation of America Holdings (NYSE:LH) is a life sciences company. On January 4, 2024, Laboratory Corporation of America Holdings (NYSE:LH) stock closed at $225.22 per share. One-month return of Laboratory Corporation of America Holdings (NYSE:LH) was 3.98%, and its shares gained 7.88% of their value over the last 52 weeks. Laboratory Corporation of America Holdings (NYSE:LH) has a market capitalization of $19.247 billion.
In its fourth quarter 2023 investor letter, Vltava Fund stated the following regarding Laboratory Corporation of America Holdings (NYSE:LH):
“Value can be created in various ways. Acquisition is one possibility. So-called spinoffs represent another. This involves hiving off a part of a company into a separate entity and taking it to market. One such spin-off occurred last summer with Laboratory Corporation of America Holdings (NYSE:LH). It spun off a smaller part of the company under the name Fortrea. For each of their shares, LabCorp shareholders received one share of the new Fortrea. It started trading at a fairly attractive price, so we sold immediately. Considering the price we got, we could say that this spin-off brought us some value, but it was only a one-off transaction and not a very large one at that.”
A research scientist in a lab wearing safety glasses, surrounded by laboratory equipment testing life science samples.
Laboratory Corporation of America Holdings (NYSE:LH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Laboratory Corporation of America Holdings (NYSE:LH) at the end of third quarter which was 45 in the previous quarter.
We discussed Laboratory Corporation of America Holdings (NYSE:LH) in another article and shared Diamond Hill Capital’s views on the company in the previous quarter. 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.
