Investment management company Vulcan Value Partners recently released its fourth quarter 2023 investor letter. A copy of the same can be downloaded here. All five investing strategies outperformed their respective benchmarks and produced strong double-digit annual returns that were far higher than inflation. Additionally, the firm is happy with the fourth quarter’s outcomes. All of the investment strategies produced double-digit returns and all of them except Small Cap beat their respective benchmarks. In the quarter, the fund’s Large Cap Composite returned 18.4% net of fees and expenses, the Small Cap Composite returned 13.0% net, the Focus Composite returned 20.0% net, the Focus Plus composite returned 19.8% (net), and the All-Cap Composite returned 18.5% net. You can check the top 5 holdings of the fund to know its best picks in 2023.
Vulcan Value Partners featured stocks such as Medpace Holdings, Inc. (NASDAQ:MEDP) in the fourth quarter 2023 investor letter. Based in Cincinnati, Ohio, Medpace Holdings, Inc. (NASDAQ:MEDP) is a clinical research-based drug and medical device development services service provider. On January 17, 2024, Medpace Holdings, Inc. (NASDAQ:MEDP) stock closed at $284.87 per share. One-month return of Medpace Holdings, Inc. (NASDAQ:MEDP) was -7.93%, and its shares gained 24.48% of their value over the last 52 weeks. Medpace Holdings, Inc. (NASDAQ:MEDP) has a market capitalization of $8.741 billion.
Vulcan Value Partners stated the following regarding Medpace Holdings, Inc. (NASDAQ:MEDP) in its fourth quarter 2023 investor letter:
“Medpace Holdings, Inc. (NASDAQ:MEDP) is a full service, clinical contract research organization. It provides outsourced drug development services to small and mid-sized biotechnology firms. The company is exceeding our expectations. While there continues to be funding challenges in the biotech industry, Medpace once again reported strong metrics around new business awards, revenue, earnings and most importantly free cash flow. It provided an initial guide for 2024 that came in above ours and others’ estimates, and as a result its share price responded positively. Medpace has a healthy balance sheet with no debt, a growing free cash flow coupon, and a highly aligned management team.”
A chemist looking through a microscope in a research and development facility as they synthesize recombinant proteins.
Medpace Holdings, Inc. (NASDAQ:MEDP) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Medpace Holdings, Inc. (NASDAQ:MEDP) at the end of third quarter which was 37 in the previous quarter.
We discussed Medpace Holdings, Inc. (NASDAQ:MEDP) in another article and shared the list of high growth NASDAQ stocks that are profitable. 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.
