Weitz Investment Management, an investment management firm, released its “Large Cap Equity Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund’s Institutional Class returned +10.91% compared to a +11.96% return for the Russell 1000 Index. The Fund’s Institutional Class has returned +29.81% for the calendar year compared to a +26.53% return for the benchmark. It was a fantastic way to cap off an excellent year. The US economy has shown to be robust, and U.S. companies have been doing well overall. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Weitz Investment Management Large Cap Equity Fund featured stocks such as Veralto Corporation (NYSE:VLTO) in the fourth quarter 2023 investor letter. Based in Waltham, Massachusetts, Veralto Corporation (NYSE:VLTO) offers technology solutions to protect and enhance resources. On February 12, 2024, Veralto Corporation (NYSE:VLTO) stock closed at $83.50 per share. The one-month return of Veralto Corporation (NYSE:VLTO) was 12.01%, and YTD its shares gained 1.51% of their value. Veralto Corporation (NYSE:VLTO) has a market capitalization of $20.574 billion.
Weitz Investment Management Large Cap Equity Fund stated the following regarding Veralto Corporation (NYSE:VLTO) in its fourth quarter 2023 investor letter:
“Most recently, we purchased new positions in Veralto Corporation (NYSE:VLTO) and Global Payments, Inc. (GPN) during the fourth quarter. Veralto is the latest spin-off from long-time holding Danaher. The company enjoys strong market positions and enviable economics in its water quality and product identification businesses. We see a clear path to modest organic growth, operating margin expansion, and value-creating capital deployment. While the stock doesn’t scream cheap on the surface, we think Veralto could evolve into a real gem.”
A computer programmer working on a holographic digital twin technology software solution.
Veralto Corporation (NYSE:VLTO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 11 hedge fund portfolios held Veralto Corporation (NYSE:VLTO) at the end of third quarter which was 0 in the previous quarter.
We discussed Veralto Corporation (NYSE:VLTO) in another article and shared Madison Sustainable Equity 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.
Suggested Articles:
- 26 Largest Mining Companies by Market cap
- 16 Most Advanced Countries in Medicine
- 12 Fastest and Easiest Countries to Get Second Citizenship
Disclosure: None. This article is originally published at Insider Monkey.
