Nomura Value Fund on Abbott Laboratories
Thesis
The fund initiated Abbott after the stock fell roughly 35% from its 2025 high and reached what the team viewed as a 10-year-low valuation. Abbott's diversified businesses span medical devices, diagnostics, nutrition and pharmaceuticals. The combination of business quality and depressed valuation created what the fund saw as a compelling long-term risk-reward tradeoff.
“With the stock trading at a 10-year low valuation (and down -35% from its 2025 high), we believed Abbott offered a compelling long-term risk-reward tradeoff.”