Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund posted a return of -4.87% gross of fees compared to -3.60% return for the Russell 1000 Growth Index. Holdings in Information Technology, Consumer Discretionary, and Materials were the major performance detractors. At the same time, investments in Consumer Staples and Financials and an overweight position in Health Care contributed positively to the strategy’s performance in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Atlantic highlighted stocks like O’Reilly Automotive, Inc. (NASDAQ:ORLY) in the Q3 2022 investor letter. Headquartered in Springfield, Missouri, O’Reilly Automotive, Inc. (NASDAQ:ORLY) is an automotive parts, tools, and supplies retailer. On November 23, 2022, O’Reilly Automotive, Inc. (NASDAQ:ORLY) stock closed at $850.82 per share. One-month return of O’Reilly Automotive, Inc. (NASDAQ:ORLY) was 4.62%, and its shares gained 31.60% of their value over the last 52 weeks. O’Reilly Automotive, Inc. (NASDAQ:ORLY) has a market capitalization of $53.241 billion.
Aristotle Atlantic made the following comment about O’Reilly Automotive, Inc. (NASDAQ:ORLY) in its Q3 2022 investor letter:
“O’Reilly Automotive, Inc. (NASDAQ:ORLY) outperformed the Consumer Discretionary sector because its business is expected to be more resilient in an economic downturn. The company’s second quarter earnings were slightly below consensus estimates; however, the outlook for the rest of the year showed steady growth despite difficult comparisons with the second half of 2021. O’Reilly Automotive continues to grow its store base and has recently announced an expansion into Mexico. The company operates in an industry where competition has historically remained rational through the economic cycle.”
O’Reilly Automotive, Inc. (NASDAQ:ORLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 48 hedge fund portfolios held O’Reilly Automotive, Inc. (NASDAQ:ORLY) at the end of the third quarter, which was 41 in the previous quarter.
We discussed O’Reilly Automotive, Inc. (NASDAQ:ORLY) in another article and shared the list of stocks that may be splitting soon. In addition, please check out our hedge fund investor letters Q3 2022 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.
