VGI Partners Global Investments Limited, an investment management company, released its second quarter 2023 investor letter. A copy of the same can be downloaded here. The firm returned 19.7%1 at an average net exposure of 72% for the six months ended June 30, 2023. Since the start of 2023, global market indices have recovered, with the MSCI World Index increasing +14% to 30 June 2023, the S&P 500 rising +16%, and the technology-focused NASDAQ Composite increasing +32% for the same period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
VGI Partners highlighted stocks like GE HealthCare Technologies Inc. (NASDAQ:GEHC) in the second quarter 2023 investor letter. Headquartered in Chicago, Illinois, GE HealthCare Technologies Inc. (NASDAQ:GEHC) is a medical technology, pharmaceutical diagnostics and digital solutions providing company. On August 15, 2023, GE HealthCare Technologies Inc. (NASDAQ:GEHC) stock closed at $70.54 per share. One-month return of GE HealthCare Technologies Inc. (NASDAQ:GEHC) was -13.71%, and its shares gained 20.83% of their value over the last 52 weeks. GE HealthCare Technologies Inc. (NASDAQ:GEHC) has a market capitalization of $32.084 billion.
VGI Partners made the following comment about GE HealthCare Technologies Inc. (NASDAQ:GEHC) in its second quarter 2023 investor letter:
“GE HealthCare Technologies Inc. (NASDAQ:GEHC) is a global medical technology leader in the Imaging, Ultrasound and Patient Monitoring space. Having initiated a position shortly after it was spun out of parent company GE in late 2022, the stock has become one of our core holdings. We will discuss the investment thesis and upside potential in greater detail later in this letter.
One of our recent new investments is GE HealthCare (GEHC), which was spun out from General Electric (GE) in late 2022. Currently it is our third largest position due to a combination of strong performance and growing the weight (we initiated a position when the company was spun off).
GEHC is a leader in Imaging and Ultrasound machines, which includes PET and CT scans, MRI, X-Ray and ultrasounds – these account for nearly three quarters of revenues. GEHC is a global business with revenues well spread between the US, Europe, China and emerging markets. The business model is both predictable and resilient in our view:…” (Click here to read the full text)
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GE HealthCare Technologies Inc. (NASDAQ:GEHC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held GE HealthCare Technologies Inc. (NASDAQ:GEHC) at the end of first quarter which was 8 in the previous quarter.
We discussed GE HealthCare Technologies Inc. (NASDAQ:GEHC) in another article and shared the list of best value stocks to buy in 2023 according to billionaire Mario Gabelli. In addition, please check out our hedge fund investor letters Q2 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.
