ClariVest Asset Management, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Clarivest Capital Appreciation Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The third quarter of 2023 began strongly in July, but the equity markets were unable to withstand the ongoing upward momentum in interest rates, and many indexes ended the quarter in the negative. When compared to the Russell 1000 Growth Index at the beginning of the quarter, the fund was most underweight in communication and consumer discretionary services and most overweight in the information technology and healthcare sectors. By the end of the quarter, the portfolio remained the most underweight consumer discretionary and consumer staples and most overweight information technology and healthcare. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Clarivest Capital Appreciation Fund highlighted stocks like Intuitive Surgical, Inc. (NASDAQ:ISRG) in the third quarter 2023 investor letter. Headquartered in Sunnyvale, California, Intuitive Surgical, Inc. (NASDAQ:ISRG) manufactures and markets da Vinci Surgical System. On December 7, 2023, Intuitive Surgical, Inc. (NASDAQ:ISRG) stock closed at $311.56 per share. One-month return of Intuitive Surgical, Inc. (NASDAQ:ISRG) was 12.28%, and its shares gained 15.14% of their value over the last 52 weeks. Intuitive Surgical, Inc. (NASDAQ:ISRG) has a market capitalization of $109.692 billion.
Carillon Clarivest Capital Appreciation Fund made the following comment about Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q3 2023 investor letter:
“Intuitive Surgical, Inc. (NASDAQ:ISRG) provides robotic-assisted surgical solutions and invasive care through a comprehensive ecosystem of products and services. Management expects the backlog of deferred surgical procedures to take several quarters to recover, with bariatric surgery growth potentially slowing down with the increasing use of weight loss drugs.”
A medical technician using surgical robotics to perform minimally-invasive urologic surgery in an operating room.
Intuitive Surgical, Inc. (NASDAQ:ISRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held Intuitive Surgical, Inc. (NASDAQ:ISRG) at the end of third quarter which was 68 in the previous quarter.
We discussed Intuitive Surgical, Inc. (NASDAQ:ISRG) in another article and shared Baron Fifth Avenue Growth Fund’s views on the company. 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.
