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River Road Asset Management, an investment management company released its “River Road Large Cap Value Select Fund” Q4 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, AMG River Road Large Cap Value Select Fund returned 0.43% compared to (1.98%) return for the Russell 1000® Value Index. For the year 2024, the fund returned 24.59% significantly outperforming Index return of 14.37%. Stocks rallied in November after a Republican victory but declined sharply following hawkish Fed comments. Shorter duration stocks, including small caps and value, lost most of their post-election gains by the end of December. For more information on the fund’s best picks in 2024, please check its top five holdings.
In its fourth quarter 2024 investor letter, River Road Large Cap Value Select Fund emphasized stocks such as Becton, Dickinson and Company (NYSE:BDX). Becton, Dickinson and Company (NYSE:BDX) is a medical technology company that develops and manufactures medical supplies, devices, laboratory equipment, and diagnostic products. The one-month return of Becton, Dickinson and Company (NYSE:BDX) was 1.41%, and its shares lost 7.57% of their value over the last 52 weeks. On March 27, 2025, Becton, Dickinson and Company (NYSE:BDX) stock closed at $228.71 per share with a market capitalization of $65.671 billion.
River Road Large Cap Value Select Fund stated the following regarding Becton, Dickinson and Company (NYSE:BDX) in its Q4 2024 investor letter:
"As of December 31, the portfolio held 29 positions, up four positions from Q3. During Q4, the largest sector increase was 736 bps within industrials, while the largest decrease was -276 bps within consumer discretionary. We established five new positions and eliminated one position
