Generation Investment Management, an investment management firm, released its “Global Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. Markets fared fairly well in 2023, in part due to the hype surrounding generative AI. The atmosphere is still difficult, though. In 2023, holdings in consumer-facing and technology firms boosted the returns of the fund while real estate and healthcare were hindered. (There are, of course, exceptions on both sides). Positively, businesses associated with the revolution in generative AI have increased returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Generation Investment Global Equity Strategy featured stocks like Thermo Fisher Scientific Inc. (NYSE:TMO) in the fourth quarter 2023 investor letter. Headquartered in Waltham, Massachusetts, Thermo Fisher Scientific Inc. (NYSE:TMO) provides life science solutions, analytical instruments, specialty diagnostics, and laboratory products and services. On March 19, 2024, Thermo Fisher Scientific Inc. (NYSE:TMO) stock closed at $582.72 per share. One-month return of Thermo Fisher Scientific Inc. (NYSE:TMO) was 5.40%, and its shares gained 5.12% of their value over the last 52 weeks. Thermo Fisher Scientific Inc. (NYSE:TMO) has a market capitalization of $222.198 billion.
Generation Investment Global Equity Strategy stated the following regarding Thermo Fisher Scientific Inc. (NYSE:TMO) in its fourth quarter 2023 investor letter:
“In each quarterly letter we share examples from the portfolio that bring our investment process to life. This quarter we focus on Thermo Fisher Scientific Inc. (NYSE:TMO), a provider of healthcare products.
In recent years advances have accelerated. The large-scale use of mRNA vaccines during the COVID pandemic – the first major application of these vaccines – is just one example. Similar advances in drug development have allowed medicines to be developed for hard-to-treat diseases like Alzheimer’s, as well as to treat and perhaps cure diseases that previously eluded treatment.
To push innovation forward, researchers need tools to ask the right questions, run experiments to test hypotheses and in turn draw insights. These tools encompass high-specification instruments, high-purity reagents, powerful software and a variety of specialised services. An ecosystem has developed of companies that specialise in providing these tools. We often think of them as providing the ‘picks-and-shovels’ to researchers who are mining for the gold once obscured by nature…” (Click here to read the full text)
A workstation in a research lab stocked with laboratory products and services.
Thermo Fisher Scientific Inc. (NYSE:TMO) is in 17th position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Thermo Fisher Scientific Inc. (NYSE:TMO) was held by 111 hedge fund portfolios, compared to 109 in the previous quarter, according to our database.
We discussed Thermo Fisher Scientific Inc. (NYSE:TMO) in another article and shared the list of most owned stocks by hedge funds. In addition, please check out our hedge fund investor letters Q4 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.
