Investment management company Vulcan Value Partners recently released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. All five investing strategies outperformed their respective benchmarks and produced strong double-digit annual returns that were far higher than inflation. Additionally, the firm is happy with the fourth quarter’s outcomes. All of the investment strategies produced double-digit returns and all of them except Small Cap beat their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 18.4% net of fees and expenses, the Small Cap Composite returned 13.0% net, the Focus Composite returned 20.0% net, the Focus Plus composite returned 19.8% (net), and the All-Cap Composite returned 18.5% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners featured stocks such as KKR & Co. Inc. (NYSE:KKR) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, KKR & Co. Inc. (NYSE:KKR) is an equity and real estate investment firm. On January 16, 2024, KKR & Co. Inc. (NYSE:KKR) stock closed at $81.55 per share. One-month return of KKR & Co. Inc. (NYSE:KKR) was -3.46%, and its shares gained 51.02% of their value over the last 52 weeks. KKR & Co. Inc. (NYSE:KKR) has a market capitalization of $72.491 billion.
Vulcan Value Partners stated the following regarding KKR & Co. Inc. (NYSE:KKR) in its fourth quarter 2023 investor letter:
“KKR & Co. Inc. (NYSE:KKR), a large alternative investment manager, continues to execute its long-term plan. In November, the company announced the acquisition of the remaining minority stake in its insurance business, Global Atlantic. During the quarter, KKR increased its 2026 FRE (fee related earnings) per share target and expressed confidence in the company’s broader growth prospects beyond 2026. We continue to believe that KKR is well-positioned for the future.”
A close-up of a wealth manager’s hands hovering over a laptop presenting a customer with investment options.
KKR & Co. Inc. (NYSE:KKR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held KKR & Co. Inc. (NYSE:KKR) at the end of third quarter which was 62 in the previous quarter.
We discussed KKR & Co. Inc. (NYSE:KKR) in another article and shared Ariel Appreciation Fund’s views on the company. 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.
