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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The above has been prepared by Børsgade ApS for information purposes and cannot be regarded as a solicitation or recommendation to buy or sell any security. Nor can the information etc. be regarded as recommendations or advice of a legal, accounting or tax nature. Børsgade cannot be held liable for losses caused by customers’/users’ actions - or lack thereof - based on the information in the above. We have made every effort to ensure that the information in the above is complete and accurate, but cannot guarantee this and accept no liability for errors or omissions.
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