Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, Aristotle Small/Mid Cap Equity Composite delivered a return of 0.93% net of fees, trailing the Russell 2500 Index’s 3.39% total return. Security selection drove the fund to underperform in the quarter while allocation effects positively contributed. Security selection in Energy, Communication Services, and Health Care contributed while holdings in Financials, Information Technology, and Industrials sectors detracted. From an allocation perspective, overweight exposures in Information Technology and Industrials helped the fund in the quarter, partially offset by underweights in Consumer Discretionary and Communication Services. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small/Mid Cap Equity Strategy highlighted stocks like Catalent, Inc. (NYSE:CTLT) in its Q1 2023 investor letter. Headquartered in Somerset, New Jersey, Catalent, Inc. (NYSE:CTLT) is a drug, protein-based biologics, cell, and gene therapies manufacturer. On June 14, 2023, Catalent, Inc. (NYSE:CTLT) stock closed at $42.09 per share. One-month return of Catalent, Inc. (NYSE:CTLT) was 30.96%, and its shares lost 58.24% of their value over the last 52 weeks. Catalent, Inc. (NYSE:CTLT) has a market capitalization of $7.588 billion.
Aristotle Small/Mid Cap Equity Strategy made the following comment about Catalent, Inc. (NYSE:CTLT) in its first quarter 2023 investor letter:
“Catalent, Inc. (NYSE:CTLT), a pharmaceutical contract development and manufacturing organization, appreciated amid positive momentum within the company’s Biologics segment, a renewed focus on improving efficiencies, and rumblings that the company may be acquired. We maintain a position, as we believe the long-term value creation opportunity for the company remains intact, driven by favorable outsourcing trends and the company’s competitive position in biologics, particularly within the company’s cell and gene therapy sub-segments.”
Photo by National Cancer Institute on Unsplash
Catalent, Inc. (NYSE:CTLT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Catalent, Inc. (NYSE:CTLT) at the end of first quarter 2023 which was 31 in the previous quarter.
We discussed Catalent, Inc. (NYSE:CTLT) in another article and shared Mairs & Power Small Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 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.
