Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. After underwhelming results in Q3, mid-cap stocks made impressive gains in Q4. Mid-cap stocks had a positive year, with every sector performing well. The Russell Midcap Growth Index (up 25.86%) outperformed the Russell Midcap Value Index (up 12.66%) by a significant margin. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Mid Cap Growth Fund featured stocks such as BILL Holdings, Inc. (NYSE:BILL) in the Q4 2023 investor letter. Headquartered in San Jose, California, BILL Holdings, Inc. (NYSE:BILL) provides cloud-based software solutions to simplify, digitize, and automate complex back-office financial operations. On January 31, 2024, BILL Holdings, Inc. (NYSE:BILL) stock closed at $78.05 per share. One-month return of BILL Holdings, Inc. (NYSE:BILL) was 5.36%, and its shares lost 39.45% of their value over the last 52 weeks. BILL Holdings, Inc. (NYSE:BILL) has a market capitalization of $8.332 billion.
Carillon Eagle Mid Cap Growth Fund stated the following regarding BILL Holdings, Inc. (NYSE:BILL) in its fourth quarter 2023 investor letter:
“BILL Holdings, Inc. (NYSE:BILL) offers cloud-based applications that simplify, digitize and automate back-office financial processes for small- and mid-sized businesses. The company reported strong results for the quarter, but it lowered guidance significantly due to macroeconomic pressures. The company’s near-term fundamentals have been impacted by recent customer behavior that involves fewer and smaller transactions, and lower-cost transaction types, in efforts to reduce their expenses. We believe that this company offers a strong product in a large market, and we expect that its fundamentals and investor sentiment will improve as the economic backdrop improves.”
A close-up of an open laptop running a cloud-based digital experience platform.
BILL Holdings, Inc. (NYSE:BILL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held BILL Holdings, Inc. (NYSE:BILL) at the end of third quarter which was 54 in the previous quarter.
We discussed BILL Holdings, Inc. (NYSE:BILL) in another article and shared the list of best mid-cap growth stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.
