Should You Hold General Motors (GM) for the Long Term?

Patient Capital Management, a value investing firm, released its “Patient Capital Opportunity Equity Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy had a strong performance in the second quarter, returning 13.31% net of fees compared to the S&P 500’s 8.74% gain. The strategy grew 20.91% over the last year, compared to a 19.59% increase for the market. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Patient Capital Opportunity Equity Strategy highlighted stocks like General Motors Company (NYSE:GM) in the second quarter 2023 investor letter. Headquartered in Detroit, Michigan, General Motors Company (NYSE:GM) designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provides software-enabled services and subscriptions. On October 4, 2023, General Motors Company (NYSE:GM) stock closed at $31.04 per share. One-month return of General Motors Company (NYSE:GM) was -4.70%, and its shares lost 10.37% of their value over the last 52 weeks. General Motors Company (NYSE:GM) has a market capitalization of $42.708 billion.

Patient Capital Opportunity Equity Strategy made the following comment about General Motors Company (NYSE:GM) in its Q2 2023 investor letter:

“We like other names mostly ignored by the market for similar reasons. Names like Expedia (EXPE), General Motors Company (NYSE:GM), and Delta Air Lines. These companies have strong returns on capital (14%+), good competitive positions, cheap valuations (all double-digit free cash flow yields), and are returning capital to shareholders. We trust the managements to take advantage of their depressed stock prices and create long-term shareholder value.”

General Motors Company (NYSE:GM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 72 hedge fund portfolios held General Motors Company (NYSE:GM) at the end of second quarter which was 73 in the previous quarter.

We discussed General Motors Company (NYSE:GM) in another article and shared the list of best battery stocks to buy before they take off. 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.