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 The Carlyle Group Inc. (NASDAQ:CG) in the fourth quarter 2023 investor letter. Headquartered in Washington, District of Columbia, The Carlyle Group Inc. (NASDAQ:CG) is an investment firm. On January 16, 2024, The Carlyle Group Inc. (NASDAQ:CG) stock closed at $38.45 per share. One-month return of The Carlyle Group Inc. (NASDAQ:CG) was -7.99%, and its shares gained 14.67% of their value over the last 52 weeks. The Carlyle Group Inc. (NASDAQ:CG) has a market capitalization of $13.873 billion.
Vulcan Value Partners stated the following regarding The Carlyle Group Inc. (NASDAQ:CG) in its fourth quarter 2023 investor letter:
“The Carlyle Group Inc. (NASDAQ:CG) is a leading alternative asset manager with $380B in AUM deploying private capital across three reportable segments: Global Private Equity, Global Credit and Global Investment Solutions. Carlyle’s sticky, long duration capital provides significant stability to the underlying business value. The rise in interest rates over the past year has put pressure on both private market transaction activity and fundraising. Better than expected inflation news during the quarter has created the expectation that the Fed could begin lower rates in 2024 which could result in normalization in its business activity. We believe the stock has responded positively to this potential outcome, yet its stock price remains at an attractive discount to our estimate of intrinsic value.”
A financial advisor with a client discussing the merits of a mutual fund, showing the company’s experienced advice in asset management.
The Carlyle Group Inc. (NASDAQ:CG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held The Carlyle Group Inc. (NASDAQ:CG) at the end of third quarter which was 17 in the previous quarter.
We discussed The Carlyle Group Inc. (NASDAQ:CG) in another article and shared Ariel Small Cap Value Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 States With the Highest Income Taxes in the US
- 20 Worst States for Dividend Income Investors
- 16 States with Income Tax Cuts in 2024
Disclosure: None. This article is originally published at Insider Monkey.
