Investment management company Vulcan Value Partners recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all gained positive absolute returns in the second quarter. The fund’s Large Cap Composite returned 10.0% net of fees and expenses, the Small Cap Composite returned 4.4% net, the Focus Composite returned 11.1% net, the Focus Plus composite returned 10.6%, and the All-Cap Composite returned 6.0% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners highlighted stocks like Microsoft Corporation (NASDAQ:MSFT) in the second quarter 2023 investor letter. Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a multinational software company that develops, and licenses software, services, devices, and solutions. On August 22, 2023, Microsoft Corporation (NASDAQ:MSFT) stock closed at $322.46 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was -4.53%, and its shares gained 16.92% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $2.396 trillion.
Vulcan Value Partners made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its second quarter 2023 investor letter:
“There were four material contributors to performance: Amazon.com, Inc., TransDigm Group Inc., CoStar Group, Inc., and Microsoft Corporation (NASDAQ:MSFT). Microsoft continues to execute well. The company is driving digital cloud growth, benefitting from the recent AI wave, and continues to generate operating leverage even in the midst of macro uncertainty. Microsoft’s competitive strengths include deep integration across the enterprise technology stack, its focus on data and developers, a strong partner ecosystem and embedded optionality on future machine learning capabilities. The company continues to generate strong free cash flow and high returns on capital.”
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Microsoft Corporation (NASDAQ:MSFT) holds the first position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 300 hedge fund portfolios held Microsoft Corporation (NASDAQ:MSFT) at the end of second quarter which was 289 in the previous quarter.
We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the list of most undervalued blue-chip stocks to buy according to hedge funds. 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.
