Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the composite delivered 1.16% net of fees (1.33% gross of fees) trailing the 5.21% total return of the Russell 2000 Index. The security selection hurt the portfolio while allocation effects positively contributed. Security selection in Communication Services and Materials along with an overweight to Industrials contributed to the relative performance while the Health Care, Information Technology, and Consumer Discretionary sectors detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small Cap Equity Strategy highlighted stocks like GXO Logistics, Inc. (NYSE:GXO) in the second quarter 2023 investor letter. Headquartered in Greenwich, Connecticut, GXO Logistics, Inc. (NYSE:GXO) is a logistics services provider. On August 24, 2023, GXO Logistics, Inc. (NYSE:GXO) stock closed at $60.52 per share. One-month return of GXO Logistics, Inc. (NYSE:GXO) was -8.07%, and its shares gained 26.82% of their value over the last 52 weeks. GXO Logistics, Inc. (NYSE:GXO) has a market capitalization of $7.198 billion.
Aristotle Small Cap Equity Strategy made the following comment about GXO Logistics, Inc. (NYSE:GXO) in its second quarter 2023 investor letter:
“GXO Logistics, Inc. (NYSE:GXO), a pure-play contract logistics company that offers warehousing, distribution, fulfillment, ecommerce, reverse logistics, and other custom solutions, was added to the portfolio. As one of the largest warehouse logistics providers in the world, we believe the company remains well positioned to benefit from a variety of secular tailwinds including: increases in outsourcing of fulfillment capabilities, automation of warehouse operations, global ecommerce growth and adoption, and nearshoring of warehouse and distribution networks.”
Credit: XPO Logistics
GXO Logistics, Inc. (NYSE:GXO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 31 hedge fund portfolios held GXO Logistics, Inc. (NYSE:GXO) at the end of second quarter which was 31 in the previous quarter.
We discussed GXO Logistics, Inc. (NYSE:GXO) in another article and shared the list of best TaaS stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
