Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The market delivered a strong performance again in the second quarter with the S&P 500 up 8.7%. Technology stocks contributed more than half of the S&P 500’s return. However, Madison Sustainable Equity Fund lagged behind the S&P 500 in the second quarter. Both sector allocation and stock selection were headwinds. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Sustainable Equity Fund highlighted stocks like Union Pacific Corporation (NYSE:UNP) in the second quarter 2023 investor letter. Headquartered in Omaha, Nebraska, Union Pacific Corporation (NYSE:UNP) engages in the railroad business. On July 17, 2023, Union Pacific Corporation (NYSE:UNP) stock closed at $209.86 per share. One-month return of Union Pacific Corporation (NYSE:UNP) was 4.21%, and its shares lost 3.25% of their value over the last 52 weeks. Union Pacific Corporation (NYSE:UNP) has a market capitalization of $127.951 billion.
Madison Sustainable Equity Fund made the following comment about Union Pacific Corporation (NYSE:UNP) in its second quarter 2023 investor letter:
“Union Pacific Corporation (NYSE:UNP) released its annual Sustainability report. Highlights include improved safety metrics as a result of its comprehensive approach to safe train operations through the use of technology in combination with training of its workforce. Train derailments declined by 21% compared to 2019. The company implemented a new qualitative cybersecurity risk management system to protect from cyber events. To date, the company has not experienced any material disruption due to a cyber attack or threat. The report also highlighted its annual giving with $24 million in donations across 2,500 non-profit organizations in 2022.”
Photo by Acton Crawford on Unsplash
Union Pacific Corporation (NYSE:UNP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 85 hedge fund portfolios held Union Pacific Corporation (NYSE:UNP) at the end of first quarter which was 83 in the previous quarter.
We discussed Union Pacific Corporation (NYSE:UNP) in another article and shared the list of best railroad stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
