Longleaf Partners Fund Comments on General Electric

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Apr 21, 2023
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General Electric (GE, Financial) –Industrial conglomerate General Electric (GE) was a topperformer as it began to execute its plan to split the company into three businesses. GE spun its Healthcare business in the quarter, and we sold GE Healthcare as it traded at our value. We believe the remaining company is still undervalued, while CEO Larry Culp has reduced leverage, cut costs, streamlined operations and improved overall morale. In 1Q 2024, GE will separate Aviation and Power, which we believe will highlight the underlying values of each as the strong, defensive growth businesses they are.

From Mason Hawkins (Trades, Portfolio)' Longleaf Partners Fund first-quarter 2023 commentary.

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