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 CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the third quarter 2023 investor letter. Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) offers cybersecurity products and services to stop breaches. On October 23, 2023, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $179.08 per share. One-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was 11.59%, and its shares gained 10.47% of their value over the last 52 weeks. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has a market capitalization of $42.762 billion.
Aristotle Large Cap Growth Strategy made the following comment about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q3 2023 investor letter:
“We sold CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and believe that recent channel checks and commentary from competitors and software companies indicate increasing headwinds across multiple industry verticals. We also believe that macroeconomic conditions and high interest rates are resulting in shorter contract cycles which also represent headwinds to Free Cash Flow growth. While the company continues to be an industry leader in endpoint detection, we view a potential slowdown.”
Photo by Jefferson Santos on Unsplash
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of the second quarter, which was 72 in the previous quarter.
We discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in another article and shared the list of best SaaS 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.
