By
Borsgade
Kurt Kara and the team behind Maj Invest Value Aktier provide a portfolio update in their February 2024 letter.
They give an update on the macro environment and disclose a new position in the portfolio:
(NB: Translation from Danish by Borsgade)
In February, we added a new position to the portfolio in the form of the American company Kroger. Kroger is a leading grocery retailer in the United States, which we believe has a robust business model and strong fundamentals. The company has consistently delivered high gross margins and a double-digit return on capital. Kroger’s diversified business model, strong fundamentals and shareholder-friendly approach to capital allocation made the company an obvious investment opportunity at the time of acquisition. […]
The acquisition of Kroger was funded by reducing the department’s positions in Meta and Samsung.
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