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 Chart Industries, Inc. (NYSE:GTLS) in the first quarter 2023 investor letter. Headquartered in Ball Ground, Georgia, Chart Industries, Inc. (NYSE:GTLS) manufactures engineered equipment for the energy and industrial gas industries. On May 22, 2023, Chart Industries, Inc. (NYSE:GTLS) stock closed at $119.78 per share. One-month return of Chart Industries, Inc. (NYSE:GTLS) was -7.13%, and its shares lost 31.63% of their value over the last 52 weeks. Chart Industries, Inc. (NYSE:GTLS) has a market capitalization of $5.118 billion.
Aristotle Atlantic Large Cap Growth Strategy made the following comment about Chart Industries, Inc. (NYSE:GTLS) in its Q1 2023 investor letter:
“Chart Industries, Inc. (NYSE:GTLS) is a leading independent global manufacturer of highly engineered equipment servicing multiple applications in the Energy and Industrial Gas markets. Its unique product portfolio is used in every phase of the liquid gas supply chain, including upfront engineering, service and repair. Being at the forefront of the clean energy transition, Chart is a leading provider of technology, equipment and services related to liquefied natural gas, hydrogen, biogas and CO2 Capture amongst other applications. Chart’s customers are mainly large, multinational producers and distributors of hydrocarbon and industrial gases. The company generates about half its sales in North America.
We see Chart Industries as a leading manufacturer of highly engineered cryogenic solutions that are used for the production and storage of industrial gases. With the exposure to energy end markets including liquified natural gas (LNG), compressed natural gas (CNG) and hydrogen, the company has the technology to ship gas from oversupplied markets to markets that do not have access to enough energy resources. Hydrogen is gaining traction as a renewable fuel due to the focus on climate change. The recent acquisition of Howden is complementary to Chart’s existing product and service offerings.”
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Chart Industries, Inc. (NYSE:GTLS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Chart Industries, Inc. (NYSE:GTLS) at the end of the fourth quarter, which was 22 in the previous quarter.
We discussed Chart Industries, Inc. (NYSE:GTLS) in another article and shared Aristotle Atlantic Partners’ views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q1 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.
