Cooper Investors, an investment management firm, released its “Cooper Investors Global Equities Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The fund returned -0.48% in the third quarter, compared to a -0.37% return for the benchmark MSCI ACWI. Global stocks closed lower at quarter-end due to rising bond yields, higher energy prices, and a strong dollar, which are typically unfriendly for equities. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Cooper Investors highlighted stocks like Union Pacific Corporation (NYSE:UNP) in the third quarter 2023 investor letter. Headquartered in Omaha, Nebraska, Union Pacific Corporation (NYSE:UNP) engages in the railroad business. On November 2, 2023, Union Pacific Corporation (NYSE:UNP) stock closed at $211.39 per share. One-month return of Union Pacific Corporation (NYSE:UNP) was 5.36%, and its shares gained 9.42% of their value over the last 52 weeks. Union Pacific Corporation (NYSE:UNP) has a market capitalization of $128.863 billion.
Cooper Investors made the following comment about Union Pacific Corporation (NYSE:UNP) in its Q3 2023 investor letter:
“The major focus in Texas was spending a day visiting operations of Union Pacific Corporation (NYSE:UNP), a Stalwart investment made earlier this year.
Our investigations into the railroad industry have felt like a history lesson of the late 19th Century, a peek into the Gilded Age. At this time railroads became a transformative force that connected the East Coast to the Western frontier, pushing the economic potential of US industry and commerce to new heights. Over a century later and despite technological upheaval, the freight railroads of North America still feel just as relevant and a key part of the new industrial age.
To own, operate and invest in a railroad is to be a part of the lifeblood of North America. It is to witness the movement of grain, concrete, steel, wood, energy, autos, and shipping containers across vast distances. These are irreplaceable assets that could not be built today, and for the most part have very few substitutes – UNPs tagline “Building America” certainly rings true…” (Click here to read the full text)
Copyright: khunaspix / 123RF Stock Photo
Union Pacific Corporation (NYSE:UNP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 84 hedge fund portfolios held Union Pacific Corporation (NYSE:UNP) at the end of second quarter which was 85 in the previous quarter.
We discussed Union Pacific Corporation (NYSE:UNP) in another article and shared the list of cash-rich dividend stocks to buy. In addition, please check out our hedge fund investor letters Q3 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.
