Vulcan Value Partners’ Material Contributor: Alphabet (GOOG)

Investment management company Vulcan Value Partners recently released its second quarter 2024 investor letter. A copy of the letter can be downloaded here. The quarterly results were mixed. The firm faced stock price volatility with some of the companies in its portfolios but managed this by adhering to discipline and capitalizing on the volatility to invest in companies with improved price-to-value ratios. In the quarter, the fund’s Large Cap Composite returned -2.9% net of fees and...