Aristotle Atlantic Partners, LLC, an investment management company, released its “Core Equity Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy delivered a total return of -4.87 % gross of fees (-4.98% net of fees) trailing the S&P 500 Index’s total return of -3.27%. The underperformance relative to the index in the quarter was due to both security selection and allocation effects. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Aristotle Atlantic Core Equity Strategy highlighted stocks like Oracle Corporation (NYSE:ORCL) in the third quarter 2023 investor letter. Headquartered in Austin, Texas, Oracle Corporation (NYSE:ORCL) provides products and services for enterprise information technology environments. On December 11, 2023, Oracle Corporation (NYSE:ORCL) stock closed at $115.13 per share. One-month return of Oracle Corporation (NYSE:ORCL) was -0.84%, and its shares gained 42.91% of their value over the last 52 weeks. Oracle Corporation (NYSE:ORCL) has a market capitalization of $315.385 billion.
Aristotle Atlantic Core Equity Strategy made the following comment about Oracle Corporation (NYSE:ORCL) in its third quarter 2023 investor letter:
“Oracle Corporation (NYSE:ORCL) provides products and services that address enterprise information technology (IT) environments. The company’s products and services include enterprise applications and infrastructure offerings that are delivered worldwide through a variety of flexible and interoperable IT deployment models. The company operates in three segments: cloud and license business, hardware, and services.
We believe Oracle’s cloud infrastructure product, OCI 2.0, continues to demonstrate strong revenue growth over several quarters. Additionally, we see the rapid growth of artificial intelligence (AI) computing needs as being a differentiated growth driver for Oracle. We believe that Oracle will continue to drive positive outcomes for the Cerner business through a better margin structure, as well as topline sales synergies.”
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Oracle Corporation (NYSE:ORCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 88 hedge fund portfolios held Oracle Corporation (NYSE:ORCL) at the end of third quarter which was 84 in the previous quarter.
We discussed Oracle Corporation (NYSE:ORCL) in another article and shared the list of best cloud 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.
