Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Aristotle Atlantic’s Large Cap Growth Strategy delivered -5.34% gross of fees (-5.51% net of fees) underperforming the Russell 1000 Growth Index’s return of -3.13%. Security selection and allocation effects led the portfolio to underperform in the quarter. Holdings in Health Care, Industrials, and Financials detracted from the relative performance of the quarter. Information Technology and Real Estate, as well as overweight exposure to healthcare, contributed to relative returns in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Large Cap Growth Strategy highlighted stocks like Apple Inc. (NASDAQ:AAPL) in the third quarter 2023 investor letter. Headquartered in Cupertino, California, Apple Inc. (NASDAQ:AAPL) is a multinational technology company that designs and manufactures smartphones, personal computers, tablets, wearables, and accessories. On October 20, 2023, Apple Inc. (NASDAQ:AAPL) stock closed at $172.88 per share. One-month return of Apple Inc. (NASDAQ:AAPL) was -1.82%, and its shares gained 15.68% of their value over the last 52 weeks. Apple Inc. (NASDAQ:AAPL) has a market capitalization of $2.703 trillion.
Aristotle Large Cap Growth Strategy made the following comment about Apple Inc. (NASDAQ:AAPL) in its Q3 2023 investor letter:
“Apple Inc. (NASDAQ:AAPL) contributed to outperformance in the third quarter, as a result of the underweight position relative to the benchmark. Following a very strong first-half performance, the stock saw a pullback ahead of the iPhone 15 launch, as investors weigh the potential growth from the new phone in the face of macroeconomic headwinds and slowing consumer spend.”
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Apple Inc. (NASDAQ:AAPL) is in 8th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 135 hedge fund portfolios held Apple Inc. (NASDAQ:AAPL) at the end of second quarter which was 131 in the previous quarter.
We discussed Apple Inc. (NASDAQ:AAPL) in another article and shared the list of best technology dividend stocks to buy. In addition, please check out our hedge fund investor letters Q3 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.
