Should You Hold Leidos Holdings (LDOS) for the Long Term?
Wedgewood Partners, an investment management company, released its “Focused SMID Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.5% compared to a 3.4% return for the Russell 2500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Wedgewood SMID Cap Strategy highlighted stocks like Leidos Holdings, Inc. (NYSE:LDOS) in the first quarter 2023 investor letter. Headquartered in Reston, Virginia, Leidos Holdings, Inc. (NYSE:LDOS) provides services and solutions in the defense, intelligence, civil, and health markets. On June 6, 2023, Leidos Holdings, Inc. (NYSE:LDOS) stock closed at $81.33 per share. One-month return of Leidos Holdings, Inc. (NYSE:LDOS) was 1.59%, and its shares lost 21.73% of their value over the last 52 weeks. Leidos Holdings, Inc. (NYSE:LDOS) has a market capitalization of $11.158 billion.
Wedgewood SMID Cap Strategy made the following comment about Leidos Holdings, Inc. (NYSE:LDOS) in its Q1 2023 investor letter:
"Top performance detractors for the quarter include First Republic Bank, Texas Pacific Land, Leidos Holdings, Inc. (NYSE:LDOS), Helen of Troy and IAA. Finally, and unfortunately—as we’ve discussed in these letters previously in commentary on Leidos - it appears a new Cold War may be emerging, and we believe this will spur long-term demand for the U.S. military, industrial, and energy industries, as we already have seen on the energy front, especially, with exports to European allies rising significantly since Russia’s invasion of Ukraine."
Photo by Jefferson Santos on Unsplash
Leidos Holdings, Inc. (NYSE:LDOS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Leidos Holdings, Inc. (NYSE:LDOS) at the end of first quarter 2023 which was 37 in the previous quarter.
We discussed Leidos Holdings, Inc. (NYSE:LDOS) in another article and shared the list of biggest cybersecurity companies in the world. In addition, please check out our hedge fund investor letters Q1 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.
