Horizon Kinetics LLC, an investment management company, released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The letter discussed global macroeconomic landscape and a comprehensive discussion about plans. You can check the fund’s top 5 holdings to know more about its best picks for 2023.
Horizon Kinetics featured stocks like McDonald’s Corporation (NYSE:MCD) in its Q4 2023 investor letter. Headquartered in Chicago, Illinois, McDonald’s Corporation (NYSE:MCD) operates and franchises restaurants under the McDonald’s brand. On February 23, 2024, McDonald’s Corporation (NYSE:MCD) stock closed at $297.75 per share. One-month return of McDonald’s Corporation (NYSE:MCD) was 1.86%, and its shares gained 12.45% of their value over the last 52 weeks. McDonald’s Corporation (NYSE:MCD) has a market capitalization of $215.018 billion.
Horizon Kinetics stated the following regarding McDonald’s Corporation (NYSE:MCD) in its fourth quarter 2023 investor letter:
“The next major development for the industrialized economies was the opening of “denied areas.” It’s not a familiar term today, but it would be found in books on geopolitics written before the collapse of the Soviet Union. It referred to the Soviet Union and China, and simply meant that businesses couldn’t expand there.
For instance, prior to 1990, it was inconceivable that someone would assert that McDonald’s Corporation (NYSE:MCD) was going to open a store in Moscow, or even Bucharest or Warsaw. But it ultimately happened. And then in Shanghai and other Chinese cities. So, in addition to the disinflationary commodity and labor impacts, the third miracle for Western economies was that all the major consumer brand companies that could only expand globally within the context of what we then called the free world, could now be truly global. Much expansion ensued, growth that could not otherwise have occurred…” (Click here to read the full text)
A close-up of customers ordering from a McDonald’s restaurant in Latin America.
McDonald’s Corporation (NYSE:MCD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, McDonald’s Corporation (NYSE:MCD) was held by 63 hedge fund portfolios, down from 70 in the previous quarter, according to our database.
We discussed McDonald’s Corporation (NYSE:MCD) in another article and shared the list of best Dow Jones dividend stocks according to analysts. 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.
