Vltava Fund, an investment management company, recently released its first-quarter 2024 investor letter. A copy of the same can be downloaded here. The fund doesn’t own any of the currently largest stocks in the portfolio, except for Berkshire. The stocks in the fund’s portfolio trade at lower earnings multiples compared to the largest ones. The portfolio stocks have more growth potential, as evidenced by the fund’s recent returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Vltava Fund featured stocks like Laboratory Corporation of America Holdings (NYSE:LH) in the first quarter 2024 investor letter. Headquartered in Burlington, North Carolina, Laboratory Corporation of America Holdings (NYSE:LH) is a life sciences company. On April 5, 2024, Laboratory Corporation of America Holdings (NYSE:LH) stock closed at $211.26 per share. One-month return of Laboratory Corporation of America Holdings (NYSE:LH) was -3.33%, and its shares gained 5.92% of their value over the last 52 weeks. Laboratory Corporation of America Holdings (NYSE:LH) has a market capitalization of $17.767 billion.
Vltava Fund stated the following regarding Laboratory Corporation of America Holdings (NYSE:LH) in its first quarter 2024 investor letter:
“We sold three positions: Lockheed Martin, Laboratory Corporation of America Holdings (NYSE:LH), and Celanese. Lockheed and LabCorp were two very profitable positions that also helped us when the market was in tough times. When the Chinese virus hit the world in the spring of 2020 and economies were paralyzed by the shutdown, it came as a shock to most companies. No one knew what would come next. As it turned out, for some companies the times were very difficult, they were sometimes teetering on the edge of survival. For others, by contrast, this was a period of record profits. LabCorp was one of those companies affected in a very positive way. Its profits soared to unprecedented levels, driven mainly by revenues from testing and vaccination for the Chinese virus. The share price also responded to the record profits by climbing to record highs.”
A laboratory technician in a high-tech lab, examining a specimen under a microscope.
Laboratory Corporation of America Holdings (NYSE:LH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Laboratory Corporation of America Holdings (NYSE:LH) was held by 36 hedge fund portfolios, compared to 30 in the previous quarter, according to our database.
We discussed Laboratory Corporation of America Holdings (NYSE:LH) in another article and shared Vltava Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2024 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.
