Here’s What Makes Oscar Health (OSCR) a Positive Contributor
Longleaf Partners, managed by Southeastern Asset Management, released its “Small-Cap Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund delivered 3.70% in the second quarter compared to a 5.21% return for the Russell 2000 Index and 3.18% for the Russell 2000 Value Index. The portfolio’s differentiated holdings within the Financials and Real Estate sectors contributed to absolute and relative returns in the quarter, while lack of exposure to Health Care and relative overweight to Consumer Staples weighed on relative results. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Longleaf Partners Small-Cap Fund highlighted stocks like Oscar Health, Inc. (NYSE:OSCR) in the second quarter 2023 investor letter. Headquartered in New York, New York, Oscar Health, Inc. (NYSE:OSCR) is a health insurance company. On September 7, 2023, Oscar Health, Inc. (NYSE:OSCR) stock closed at $6.59 per share. One-month return of Oscar Health, Inc. (NYSE:OSCR) was -12.13%, and its shares gained 5.61% of their value over the last 52 weeks. Oscar Health, Inc. (NYSE:OSCR) has a market capitalization of $1.462 billion.
Longleaf Partners Small-Cap Fund made the following comment about Oscar Health, Inc. (NYSE:OSCR) in its Q2 2023 investor letter:
"Oscar Health, Inc. (NYSE:OSCR) - Health insurance and software platform Oscar Health was again the top performer in the quarter and for the first half. New CEO Mark Bertolini brings significant operational expertise, as well as a strong endorsement value to the business, given his long-term track record as CEO of Aetna. As discussed last quarter, his compensation package aligns his interests with shareholders. He is already executing on improved cost control and operational efficiency that should translate into improved results in the next 6-12 months. In the quarter, the company affirmed near-term results are on track."
Oscar Health, Inc. (NYSE:OSCR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Oscar Health, Inc. (NYSE:OSCR) at the end of second quarter which was 21 in the previous quarter.
We discussed Oscar Health, Inc. (NYSE:OSCR) in another article and shared Longleaf Partners Small-Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q2 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.
