Investment management company Vulcan Value Partners recently released its first quarter 2024 investor letter. A copy of the letter can be downloaded here. The firm is happy with the first quarter’s outcomes. All of the strategic composites generated positive returns, and many of them outperformed their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 12.0% net of fees and expenses, the Small Cap Composite returned 0.2% net, the Focus Composite returned 12.7% net, the Focus Plus composite returned 12.9%, and the All-Cap Composite returned 6.6% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners featured stocks like TransDigm Group Incorporated (NYSE:TDG) in the first quarter 2024 investor letter. Headquartered in Cleveland, Ohio, TransDigm Group Incorporated (NYSE:TDG) is an aircraft components manufacturer and supplier. On May 9, 2024, TransDigm Group Incorporated (NYSE:TDG) stock closed at $1,318.86 per share. One-month return of TransDigm Group Incorporated (NYSE:TDG) was 6.80%, and its shares gained 65.50% of their value over the last 52 weeks. TransDigm Group Incorporated (NYSE:TDG) has a market capitalization of $73.801 billion.
Vulcan Value Partners stated the following regarding TransDigm Group Incorporated (NYSE:TDG) in its first quarter 2024 investor letter:
“TransDigm Group Incorporated (NYSE:TDG) is an aerospace company making OEM and aftermarket parts for commercial and military aircraft. Approximately 90% of its net sales are from proprietary parts. TransDigm reported double-digit organic revenue and profit growth in its most recent quarter as air travel continued to rebound from the pandemic. These results are on top of double-digit revenue and profit growth in its most recent fiscal year. TransDigm continues to generate strong free cash flow and is making intelligent capital allocation decisions. TransDigm was a material contributor last quarter as well.”
An aerial view of an aircraft factory, showing a flurry of activity on the factory floor.
TransDigm Group Incorporated (NYSE:TDG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held TransDigm Group Incorporated (NYSE:TDG) at the end of the fourth quarter which was 67 in the previous quarter.
We previously discussed TransDigm Group Incorporated (NYSE:TDG) in another article, where we shared the list of best aerospace and defense stocks to invest in. In the Q4 2023 letter Vulcan Value Partners shared its expectation on TransDigm Group Incorporated’s (NYSE:TDG) robust performance in 2024. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
