Oakmark Funds, advised by Harris Associates, released its “Oakmark Equity and Income Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. The fund delivered 4.92% during the quarter compared to the Lipper Balanced Fund Index’s 5.15% return. This was driven by an 8.53% return on the equity portfolio, which lagged the S&P 500 Index of 10.56%. The fund has returned an average of 9.69% per year since its inception in November 1995 outperforming the index’s 6.97% return over the same period. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
Oakmark Equity and Income Fund featured stocks HCA Healthcare, Inc. (NYSE:HCA) in the first quarter 2024 investor letter. Headquartered in Nashville, Tennessee, HCA Healthcare, Inc. (NYSE:HCA) owns and operates hospitals and related healthcare entities. On April 5, 2024, HCA Healthcare, Inc. (NYSE:HCA) stock closed at $328.80 per share. One-month return of HCA Healthcare, Inc. (NYSE:HCA) was 1.71%, and its shares gained 20.57% of their value over the last 52 weeks. HCA Healthcare, Inc. (NYSE:HCA) has a market capitalization of $86.419 billion.
Oakmark Equity and Income Fund stated the following regarding HCA Healthcare, Inc. (NYSE:HCA) in its first quarter 2024 investor letter:
“We eliminated one position, HCA Healthcare, Inc. (NYSE:HCA), during the quarter as the stock traded at our estimate of fair value. HCA was a very good investment and more than quadrupled from our original investment price in 2016. We believe HCA is a well-managed business with the best collection of assets in the hospital space. Hospital stocks tend to be much more volatile than their actual intrinsic value, and we would gladly purchase HCA again if the discount to value warrants.”
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HCA Healthcare, Inc. (NYSE:HCA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, HCA Healthcare, Inc. (NYSE:HCA) was held by 72 hedge fund portfolios, compared to 71 in the previous quarter, according to our database.
We discussed HCA Healthcare, Inc. (NYSE:HCA) in another article and shared Michael Burry’s top 5 stock picks for 2024. In addition, please check out our hedge fund investor letters Q1 2024 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.
