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 Synopsys, Inc. (NASDAQ:SNPS) in the third quarter 2023 investor letter. Headquartered in Mountain View, California, Synopsys, Inc. (NASDAQ:SNPS) provides software products and consulting services in the electronic design automation industry. On October 23, 2023, Synopsys, Inc. (NASDAQ:SNPS) stock closed at $467.82 per share. One-month return of Synopsys, Inc. (NASDAQ:SNPS) was 5.28%, and its shares gained 58.73% of their value over the last 52 weeks. Synopsys, Inc. (NASDAQ:SNPS) has a market capitalization of $71.148 billion.
Aristotle Large Cap Growth Strategy made the following comment about Synopsys, Inc. (NASDAQ:SNPS) in its Q3 2023 investor letter:
“Synopsys, Inc. (NASDAQ:SNPS) contributed to performance in the quarter as the company reported third quarter revenues that were above consensus, additionally the company raised fiscal year guidance for 2023. Synopsys continues to be a key beneficiary from the demand for semiconductors throughout the entire economy, as well as the increasing complexity of semiconductor design, particularly for silicon used in the aritifical intelligence (AI) technology stack. The company is also leveraging AI for its design tools which can drive increased usage and improve margins for the company’s tools.”
An engineer manipulating a complex circuit board that will be used in flat panel displays. Editorial photo for a financial news article. 8k. –ar 16:9
Synopsys, Inc. (NASDAQ:SNPS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 57 hedge fund portfolios held Synopsys, Inc. (NASDAQ:SNPS) at the end of second quarter which was 39 in the previous quarter.
We discussed Synopsys, Inc. (NASDAQ:SNPS) in another article and shared TimesSquare Capital U.S. Mid Cap Growth Strategy’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.
