The London Company, an investment management company, released “The London Company Large Cap Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned 8% gross, (7.9% net) compared to an 8.6% increase in the Russell 1000 Index. The portfolio’s relative performance was slowed down by sector exposure which was partially offset by favorable stock selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Large Cap Strategy highlighted stocks like O’Reilly Automotive, Inc. (NASDAQ:ORLY) in the second quarter 2023 investor letter. Headquartered in Springfield, Missouri, O’Reilly Automotive, Inc. (NASDAQ:ORLY) is an automotive parts, tools, and supplies retailer. On August 3, 2023, O’Reilly Automotive, Inc. (NASDAQ:ORLY) stock closed at $930.78 per share. One-month return of O’Reilly Automotive, Inc. (NASDAQ:ORLY) was -0.39%, and its shares gained 31.28% of their value over the last 52 weeks. O’Reilly Automotive, Inc. (NASDAQ:ORLY) has a market capitalization of $56.665 billion.
The London Company Large Cap Strategy made the following comment about O’Reilly Automotive, Inc. (NASDAQ:ORLY) in its second quarter 2023 investor letter:
“O’Reilly Automotive, Inc. (NASDAQ:ORLY) – ORLY outperformed during Q2 led by share gains in its Pro business. Despite macro uncertainties, demand remains strong as customers are prioritizing the repair and maintenance of vehicles. ORLY remains the gold standard for service, part availability, and logistics in this industry. ORLY has a strong balance sheet, and has a good record of effective share repurchase.
Reduced: O’Reilly Automotive (ORLY) – Reduced ORLY twice during Q2, reflecting strong recent performance that resulted in a relatively high valuation. ORLY remains well positioned for growth and leads the auto parts industry, which is fairly insulated from economic turbulence.”
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O’Reilly Automotive, Inc. (NASDAQ:ORLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held O’Reilly Automotive, Inc. (NASDAQ:ORLY) at the end of first quarter which was 47 in the previous quarter.
We discussed O’Reilly Automotive, Inc. (NASDAQ:ORLY) in another article and shared the list of stocks whose price targets were recently raised by analysts. 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.
