Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, Aristotle Atlantic’s Large Cap Growth Strategy delivered 12.16% net of fees underperforming the Russell 1000 Growth Index’s return of 14.37%. Security selection and allocation effects led the portfolio to underperform in the quarter relative to its benchmark. Holdings in Information Technology and Health Care and a lack of exposure to Energy contributed to relative returns while stock selection in Consumer Discretionary and Industrials and overweight exposure in Health Care detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Atlantic Large Cap Growth Strategy highlighted stocks like Norfolk Southern Corporation (NYSE:NSC) in the first quarter 2023 investor letter. Headquartered in Atlanta, Georgia, Norfolk Southern Corporation (NYSE:NSC) is a rail transportation company. On May 22, 2023, Norfolk Southern Corporation (NYSE:NSC) stock closed at $218.24 per share. One-month return of Norfolk Southern Corporation (NYSE:NSC) was 5.37%, and its shares lost 6.06% of their value over the last 52 weeks. Norfolk Southern Corporation (NYSE:NSC) has a market capitalization of $49.68 billion.
Aristotle Atlantic Large Cap Growth Strategy made the following comment about Norfolk Southern Corporation (NYSE:NSC) in its Q1 2023 investor letter:
“Norfolk Southern Corporation (NYSE:NSC) underperformed in the first quarter of 2023 following the derailment of a train in Ohio in early February. Although there were no fatalities or injuries in the accident, chemical spills and a controlled burn of the contents of some tanker cars raised concern for long-term environmental impact, the associated cost of the cleanup and the increased risk of more stringent government regulations.”
Copyright: khunaspix / 123RF Stock Photo
Norfolk Southern Corporation (NYSE:NSC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held Norfolk Southern Corporation (NYSE:NSC) at the end of the fourth quarter which was 47 in the previous quarter.
We discussed Norfolk Southern Corporation (NYSE:NSC) in another article and shared the list of top railroad companies in the world. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 20 Biggest Publishing Companies in the World
- 10 Dividend Stocks with 10%+ Yield
- Billionaire Ray Dalio’s Top 12 Dividend Stock Picks
Disclosure: None. This article is originally published at Insider Monkey.
