Mairs & Power, an investment advisor, released “Mairs & Power Growth Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The market has risen 24% in the second quarter from its last fall. The fund also had a positive start to the year and was up 18.82% compared to a 16.89% increase for the S&P 500 TR Index and 13.39% for the peer group as measured by the Morningstar Large Blend category. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Mairs & Power Growth Fund highlighted stocks like UnitedHealth Group Incorporated (NYSE:UNH) in the second quarter 2023 investor letter. Headquartered in Minnetonka, Minnesota, UnitedHealth Group Incorporated (NYSE:UNH) is a diversified healthcare company that operates through UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx segments. On August 23, 2023, UnitedHealth Group Incorporated (NYSE:UNH) stock closed at $489.44 per share. One-month return of UnitedHealth Group Incorporated (NYSE:UNH) was -3.13%, and its shares lost 9.63% of their value over the last 52 weeks. UnitedHealth Group Incorporated (NYSE:UNH) has a market capitalization of $458.288 billion.
Mairs & Power Growth Fund made the following comment about UnitedHealth Group Incorporated (NYSE:UNH) in its second quarter 2023 investor letter:
“Notable detractors to performance in the first half were US Bank (USB), Charles Schwab (SCHW), and UnitedHealth Group Incorporated (NYSE:UNH), which were down 22.09%, 31.65%, and 8.65%, respectively. Another detractor from relative performance was UnitedHealth Group, which was down 8.65%. However, we have a positive long-term view of the company, headquartered in Minnesota, and especially its potential when it comes to harnessing its vast amounts of patient data via AI. Additionally, its Optum unit, which provides technology and data-driven care delivery, has AI-enabled tools that can help healthcare providers drive more efficient and accurate care to patients.”
Source: Unsplash
UnitedHealth Group Incorporated (NYSE:UNH) is in 16th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 111 hedge fund portfolios held UnitedHealth Group Incorporated (NYSE:UNH) at the end of second quarter which was 116 in the previous quarter.
We discussed UnitedHealth Group Incorporated (NYSE:UNH) 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.
