Here’s How Aristotle Small/Mid Cap Equity Composite Received Amentum Holdings (AMTM) Shares

Aristotle Capital Boston, LLC, an investment advisor, released its “Small/Mid Cap Equity Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund delivered a 9.48% net of fees (9.66% gross of fees) outperforming the Russell 2500 Index’s 8.75% total return. Security selection drove the outperformance while allocation effects detracted. For more information on the fund’s best picks in 2024, please check its top five holdings.

Aristotle Small/Mid Cap Equity Strategy highlighted stocks like Amentum Holdings, Inc. (NYSE:AMTM) in the third quarter 2024 investor letter. Amentum Holdings, Inc. (NYSE:AMTM) offers engineering and technology solutions to address challenges in science, security, and sustainability. The one-month return of Amentum Holdings, Inc. (NYSE:AMTM) was 13.74%. On November 11, 2024, Amentum Holdings, Inc. (NYSE:AMTM) stock closed at $32.28 per share with a market capitalization of $7.854 billion.

Aristotle Small/Mid Cap Equity Strategy stated the following regarding Amentum Holdings, Inc. (NYSE:AMTM) in its Q3 2024 investor letter:

“Amentum Holdings, Inc. (NYSE:AMTM), a mission critical IT and engineering services company, was spun out of AECOM in 2020 and merged with the military contracting business of current holding, Jacobs Solutions, in September 2024. The portfolio received shares of Amentum Holdings as part of the corporate action.”

A worker in a hard hat and safety gear overseeing the construction of a major energy project.

Amentum Holdings, Inc. (NYSE:AMTM) is not on our list of 31 Most Popular Stocks Among Hedge Funds. While we acknowledge the potential of Amentum Holdings, Inc. (NYSE:AMTM) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In addition, please check out our hedge fund investor letters Q3 2024 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.