Cooper Investors, an investment management firm, published its “Cooper Investors Global Equities Fund” third-quarter 2022 investor letter – a copy of which can be downloaded here. The portfolio returned -4.77% in the quarter, versus the benchmark return of -5.52%. Profound US Dollar strength was a feature of the period; the A$ fell -6.5%, Yen -6.1%, Euro -6.3%, and the Pound – 8.1%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, Cooper Investors Global Equities Fund mentioned Danaher Corporation (NYSE:DHR) and explained its insights for the company. Founded in 1969, Danaher Corporation (NYSE:DHR) is a Washington, D.C.-based conglomerate company with a $193.1 billion market capitalization. Danaher Corporation (NYSE:DHR) delivered a -19.28% return since the beginning of the year, while its 12-month returns are down by -13.91%. The stock closed at $265.57 per share on October 18, 2022.
Here is what Cooper Investors Global Equities Fund has to say about Danaher Corporation (NYSE:DHR) in its Q3 2022 investor letter:
“Spin-offs have been a valuable source of uncorrelated return for the portfolio since inception, whether investing in them directly or retaining ownership stakes in the spun-off assets of existing holdings. During the quarter Danaher announced the spin of its Environmental & Applied Solutions group (EAS) expected to close in late 2023. Danaher have been masters of the spin over the last decade and once again this one appears to make sense for both parties. The parent becomes a pure-play life sciences and diagnostics business with higher growth, margins and returns plus more M&A firepower. EAS, with leading positions in water quality through assets like Hach, ChemTreat and Trojan will, as a standalone business, have a more focused M&A strategy and represent an attractive water-related exposure for ESG focused funds. The spinco will still operate with the highly regarded Danaher Business System though (like ‘Fortive Business System’) we expect this to get rebranded while still delivering outstanding financial results.”
Our calculations show that Danaher Corporation (NYSE:DHR) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Danaher Corporation (NYSE:DHR) was in 82 hedge fund portfolios at the end of the second quarter of 2022, compared to 83 funds in the previous quarter. Danaher Corporation (NYSE:DHR) delivered a 3.84% return in the past 3 months.
In October 2022, we also shared another hedge fund’s views on Danaher Corporation (NYSE:DHR) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.
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Disclosure: None. This article is originally published at Insider Monkey.
