Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. During the fourth quarter, equity markets ended the year on a high note, with the S&P 500 achieving an 11.7% increase. This brought the full-year return to 26.3%. The Fund (Class Y) returned 18.0% for the year, but had a Q4 return of 11.9%, trailing the S&P 500. The fourth quarter’s strength can be attributed to the yield curve’s downward shift. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Sustainable Equity Fund featured stocks such as QUALCOMM Incorporated (NASDAQ:QCOM) in the fourth quarter 2023 investor letter. Headquartered in San Diego, California, QUALCOMM Incorporated (NASDAQ:QCOM) engages in the development and commercialization of foundational technologies for the wireless industry. On February 1, 2024, QUALCOMM Incorporated (NASDAQ:QCOM) stock closed at $141.11 per share. The one-month return of QUALCOMM Incorporated (NASDAQ:QCOM) was 3.20%, and its shares gained 4.51% of their value over the last 52 weeks. QUALCOMM Incorporated (NASDAQ:QCOM) has a market capitalization of $157.479 billion.
Madison Sustainable Equity Fund stated the following regarding QUALCOMM Incorporated (NASDAQ:QCOM) in its fourth quarter 2023 investor letter:
“QUALCOMM Incorporated (NASDAQ:QCOM) also reported a solid fourth fiscal quarter with better than expected results. The company guided the first quarter ahead of expectations despite headwinds from Samsung as the inventory headwinds dissipate. Qualcomm remains well positioned in the mobile handset market and should benefit as Artificial Intelligence moves to edge devices which could drive an upgrade cycle.”
An aerial view of a bustling semiconductor production zone showcasing the company’s integrated circuits.
QUALCOMM Incorporated (NASDAQ:QCOM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held QUALCOMM Incorporated (NASDAQ:QCOM) at the end of third quarter which was 73 in the previous quarter.
We discussed QUALCOMM Incorporated (NASDAQ:QCOM) in another article and shared most undervalued quality stocks to buy according to hedge funds. 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.
