Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The S&P 500 Index rose 11.7% in Q4 and 26.3% for the year. Investors became more comfortable that the U.S. Federal Reserve was done with raising interest rates, leading to a decrease of over 70 basis points in 10-year U.S. Treasury yields. The Federal Reserve’s core Personal Consumption Expenditures (PCE) Price Index has been moderating on a year-over-year basis, easing concerns about interest rates. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Growth & Income Fund featured stocks like Broadcom Inc. (NASDAQ:AVGO) in the fourth quarter 2023 investor letter. Headquartered in Palo Alto, California, Broadcom Inc. (NASDAQ:AVGO) is a technology company that designs, develops, and supplies semiconductors and infrastructure software solutions. On March 7, 2024, Broadcom Inc. (NASDAQ:AVGO) stock closed at $1,407.01 per share. One-month return of Broadcom Inc. (NASDAQ:AVGO) was 9.63%, and its shares gained 128.85% of their value over the last 52 weeks. Broadcom Inc. (NASDAQ:AVGO) has a market capitalization of $652.038 billion.
Carillon Eagle Growth & Income Fund stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its fourth quarter 2023 investor letter:
“Broadcom Inc. (NASDAQ:AVGO) traded higher after closing on its acquisition of VMware. The company also announced earnings that were relatively in line with estimates with some benefit of better operating expenses. The stock appears to be one of the first real beneficiaries of generative artificial intelligence (AI) with meaningful revenue expected to show up in 2024.”
A technician working at a magnified microscope, developing a new integrated circuit.
Broadcom Inc. (NASDAQ:AVGO) is in 30th position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Broadcom Inc. (NASDAQ:AVGO) was held by 91 hedge fund portfolios, up from 87 in the previous quarter, according to our database.
We discussed Broadcom Inc. (NASDAQ:AVGO) in another article and shared Aristotle Atlantic Core Equity Strategy’s views on the company. 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.
