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Investment management company Polen Capital has released its “Polen Global Growth Strategy” Q4 2023 investor letter. You can download a copy of the same here. In the fourth quarter, the fund grew 11.66% gross and 11.36% net, compared to an 11.03% rise in the MSCI ACW Index. For the full year, the fund’s total return excluding fees was 32.38% and 30.92%, compared to the index’s return of 22.20%. Excluding fees, the portfolio outperformed by 33 bps in the quarter and 872 bps for the year. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2023.
Polen Global Growth Strategy’s Q4 2023 Investor Letter featured stocks such as Abbott Laboratories (NYSE:ABT). Abbott Laboratories (NYSE:ABT), headquartered in North Chicago, Illinois, is a manufacturer of healthcare products. On February 23, 2024, Abbott Laboratories (NYSE: ABT) stock closed at $119.46 per share. Abbott Laboratories (NYSE:ABT)’s 1-month return is his 5.30% and the stock has increased his 19.74% in value over the past 52 weeks. Abbott Laboratories (NYSE:ABT) has a market capitalization of $207.285 billion.
Polen Global Growth Strategy said this about Abbott Laboratories (NYSE:ABT) in its Q4 2023 investor letter:
“Abbott Research Institute” (NYSE:ABT), a leading global healthcare business serving a broad range of end markets, is one of the positions we added during the period. The stock has been under pressure in recent quarters as the company has experienced significant (and expected) declines in sales related to pandemic-era coronavirus testing. However, we believe this is just a distraction as the core business remains very strong. While there is no change to our expectations for long-term growth, the valuation of the stock has been compressed and given the long-term sustainable growth profile of the business, this represents an attractive opportunity to further increase our position. I am. ”
A patient viewing a medical diagnosis in a digital healthcare ecosystem.
Abbott Laboratories (NYSE:ABT) isn’t included in this list of 30 most popular stocks among hedge funds. According to our database, Abbott Laboratories (NYSE:ABT) was held by 64 hedge fund portfolios at the end of the fourth quarter, down from 69 at the prior quarter.
We talked about Abbott Laboratories (NYSE:ABT) in a separate article and shared a list of stocks with the least amount of short interest. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
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