Madison Investments, an investment advisor, released its “Madison Sustainable Equity Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund’s performance lagged behind the S&P 500 Index, which returned 7.5% in the quarter, with a very narrow market. Both Sector Allocation and Stock Selection affected the performance of the fund in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Madison Sustainable Equity Fund highlighted stocks like Oracle Corporation (NYSE:ORCL) in the first quarter 2023 investor letter. Headquartered in Austin, Texas, Oracle Corporation (NYSE:ORCL) offers software products and services worldwide. On April 18, 2023, Oracle Corporation (NYSE:ORCL) stock closed at $96.47 per share. One-month return of Oracle Corporation (NYSE:ORCL) was 9.75%, and its shares gained 20.15% of their value over the last 52 weeks. Oracle Corporation (NYSE:ORCL) has a market capitalization of $260.45 billion.
Madison Sustainable Equity Fund made the following comment about Oracle Corporation (NYSE:ORCL) in its Q1 2023 investor letter:
“During the quarter, we established a new position in Oracle Corporation (NYSE:ORCL) as the company’s growth profile has improved from a low single digit revenue growth company to high single digits. The key drivers of improved growth come from the company’s Software-as-a-Service applications and the Oracle Cloud Infrastructure (OCI). Oracle’s software applications power the Enterprise Resource Planning and Human Capital Management functions of large and small-to-medium sized businesses and are growing in the mid-teens. OCI is a differentiated cloud infrastructure provider that is gaining share due to its strong value proposition in speed, performance, and security. In addition, we believe that the company’s operating margins will improve from scale benefits in OCI and cost efficiencies from its recent acquisition of Cerner.”
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Oracle Corporation (NYSE:ORCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of the fourth quarter which was 67 in the previous quarter.
We discussed Oracle Corporation (NYSE:ORCL) in another article and shared the list of cheap quarterly dividend stocks to buy. In addition, please check out our hedge fund investor letters Q1 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.
