Multiple Tailwinds Pushed PACCAR (PCAR) in Q2

Madison Investments, an investment advisor, released its “Madison Investors Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund advanced 8.5% compared to an 8.7% return for S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like PACCAR Inc (NASDAQ:PCAR) in the second quarter 2023 investor letter. Headquartered in Bellevue, Washington, PACCAR Inc (NASDAQ:PCAR) is a commercial truck manufacturer. On July 13, 2023, PACCAR Inc (NASDAQ:PCAR) stock closed at $85.77 per share. One-month return of PACCAR Inc (NASDAQ:PCAR) was 9.08%, and its shares gained 60.72% of their value over the last 52 weeks. PACCAR Inc (NASDAQ:PCAR) has a market capitalization of $44.822 billion.

Madison Investors Fund made the following comment about PACCAR Inc (NASDAQ:PCAR) in its second quarter 2023 investor letter:

“In the second quarter, the top five contributors to performance were Alphabet, Copart, Alcon, Parker-Hannifin, and PACCAR Inc (NASDAQ:PCAR). At truck manufacturer PACCAR, operating margins remain strong, supported by new truck models, improved manufacturing efficiency, and a growing aftermarket parts division.”

Pixabay/Public Domain

PACCAR Inc (NASDAQ:PCAR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held PACCAR Inc (NASDAQ:PCAR) at the end of first quarter 2023 which was 38 in the previous quarter.

We discussed PACCAR Inc (NASDAQ:PCAR) in another article and shared the list of stocks billionaire Chris Rokos is selling in 2023. 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.