Polen Capital, an investment management company, released its “Polen Global Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased 11.66% gross and 11.36% net, respectively, compared to an 11.03% increase for the MSCI ACW Index. For the full year, the fund returned 32.38% and 30.92%, gross and net of fees, respectively compared to 22.20% for the index. The Portfolio has, net of fees, outperformed by 33bps during the quarter and by 872bps for the full year. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen Global Growth Strategy featured stocks like Abbott Laboratories (NYSE:ABT) in the fourth quarter 2023 investor letter. Headquartered in North Chicago, Illinois, Abbott Laboratories (NYSE:ABT) is a healthcare products manufacturer. On February 23, 2024, Abbott Laboratories (NYSE:ABT) stock closed at $119.46 per share. One-month return of Abbott Laboratories (NYSE:ABT) was 5.30%, and its shares gained 19.74% of their value over the last 52 weeks. Abbott Laboratories (NYSE:ABT) has a market capitalization of $ 207.285 billion.
Polen Global Growth Strategy stated the following regarding Abbott Laboratories (NYSE:ABT) in its fourth quarter 2023 investor letter:
“Abbott Laboratories (NYSE:ABT), a globally dominant healthcare business serving a broad range of end markets, was another position we added to in the period. The stock has come under pressure in recent quarters as the company has experienced a significant (and expected) decline in sales tied to pandemic-era COVID testing. However, we feel this amounts to little more than a distraction, as the core business continues to perform very well. Nothing has changed around our expectations for long-term growth, yet the stock’s valuation has compressed, making for an attractive opportunity to add to the position given the long-term durable growth profile of this business.”
A patient viewing their medical diagnosis on a digital healthcare ecosystem.
Abbott Laboratories (NYSE:ABT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Abbott Laboratories (NYSE:ABT) was held by 64 hedge fund portfolios, down from 69 in the previous quarter, according to our database.
We discussed Abbott Laboratories (NYSE:ABT) in another article and shared the list of least shorted stocks. In addition, please check out our hedge fund investor letters Q4 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.
