River Road Asset Management, an investment management company released its “River Road Large Cap Value Select Fund” Q4 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, AMG River Road Large Cap Value Select Fund returned 0.43% compared to (1.98%) return for the Russell 1000® Value Index. For the year 2024, the fund returned 24.59% significantly outperforming Index return of 14.37%. Stocks rallied in November after a Republican victory but declined sharply following hawkish Fed comments. Shorter duration stocks, including small caps and value, lost most of their post-election gains by the end of December. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, River Road Large Cap Value Select Fund emphasized stocks such as GE HealthCare Technologies Inc. (NASDAQ:GEHC). GE HealthCare Technologies Inc. (NASDAQ:GEHC) manufactures and markets products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients. The one-month return of GE HealthCare Technologies Inc. (NASDAQ:GEHC) was -6.51%, and its shares lost 10.17% of their value over the last 52 weeks. On March 27, 2025, GE HealthCare Technologies Inc. (NASDAQ:GEHC) stock closed at $81.66 per share with a market capitalization of $37.34 billion.
River Road Large Cap Value Select Fund stated the following regarding GE HealthCare Technologies Inc. (NASDAQ:GEHC) in its Q4 2024 investor letter:
“As of December 31, the portfolio held 29 positions, up four positions from Q3. During Q4, the largest sector increase was 736 bps within industrials, while the largest decrease was -276 bps within consumer discretionary. We established five new positions and eliminated one position.
We eliminated GE HealthCare Technologies Inc. (NASDAQ:GEHC) (GEHC, 2.5 conviction) during the quarter as the stock traded near its assessed value and we have some concerns around the demand shortfalls in China (11% of revenue). The management team has demonstrated strong execution since its spinoff from GE in January 2023 with 140 bps of margin expansion and 400 bps of organic topline growth. We placed GEHC on our watch list and would happily repurchase shares if it trades at a sufficient discount.”
A radiologist in a lab examining a computed tomography scan of a patient.
GE HealthCare Technologies Inc. (NASDAQ:GEHC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held GE HealthCare Technologies Inc. (NASDAQ:GEHC) at the end of the fourth quarter compared to 50 in the third quarter. While we acknowledge the potential of GE HealthCare Technologies Inc. (NASDAQ:GEHC) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We covered GE HealthCare Technologies Inc. (NASDAQ:GEHC) in another article, where we shared the top AI ratings and news updates on Wall Street’s radar. In the fourth quarter, Oakmark Fund added GE HealthCare Technologies Inc. (NASDAQ:GEHC) to its portfolio, anticipating that the company will benefit from increased focus, a more aligned management and incentives, and an improved corporate culture. In addition, please check out our hedge fund investor letters Q4 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.