Madison Funds, managed by Madison Investment Management, released its “Madison Sustainable Equity Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 7% compared to a 7.56% return for the S&P 500 Index. In the quarter, sector allocation was negative while the stock selection was positive. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Madison Funds highlighted stocks like Linde plc (NYSE:LIN) in its Q4 2022 investor letter. Headquartered in Woking, the United Kingdom, Linde plc (NYSE:LIN) is an industrial gas and engineering company. On January 13, 2023, Linde plc (NYSE:LIN) stock closed at $334.11 per share. One-month return of Linde plc (NYSE:LIN) was 1.36%, and its shares gained 1.67% of their value over the last 52 weeks. Linde plc (NYSE:LIN) has a market capitalization of $164.57 billion.
Madison Funds made the following comment about Linde plc (NYSE:LIN) in its fourth-quarter 2022 investor letter:
“Linde plc (NYSE:LIN) stock was strong during the fourth quarter following a solid third quarter. Linde remains well positioned with the passage of the Inflation Reduction Act and energy transition with carbon dioxide sequestration opportunities, gasification services, and various hydrogen projects. Linde and Schlumberger announced that they entered into a collaboration of carbon capture, utilization, and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors. The collaboration will combine decades of experience in carbon dioxide capture and sequestration. The collaboration will focus on hydrogen and ammonia production where carbon dioxide is a by-product. The International Energy Agency estimates that 6 Gigatons of carbon dioxide will need to be abated with CCUS in order to reach net zero by 2050. During the quarter, Linde also announced that it became a signatory to the United Nations Global Compact (UNGC), the world’s largest corporate sustainability initiative. As a signatory, Linde has committed to aligning its strategy and activities with the UNGC’s Ten Principles across human rights, labor, environment, and anti-corruption.”
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Linde plc (NYSE:LIN) is not on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 56 hedge fund portfolios held Linde plc (NYSE:LIN) at the end of the third quarter, and 48 in the previous quarter.
We discussed Linde plc (NYSE:LIN) in another article and shared Jim Cramer’s favorite dividend aristocrats. In addition, please check out our hedge fund investor letters Q4 2022 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.
