Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, Aristotle Atlantic’s Focus Growth strategy returned 13.05% (net) underperforming the Russell 1000 Growth Index’s return of 14.37%. Allocation effects led the portfolio to underperform in the quarter relative to its benchmark, while security selection modestly contributed. Security selection in Information Technology, Financials, and Health Care contributed to the relative performance of the strategy in the quarter, while holdings in Consumer Discretionary and Consumer Staples, as well as 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 Focus Growth Strategy highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in the first quarter 2023 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) provides computer graphics processors, chipsets, and related multimedia software. On April 26, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $269.56 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was -1.56%, and its shares gained 36.27% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $665.813 billion.
Aristotle Atlantic Focus Growth Strategy made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:
“NVIDIA Corporation (NASDAQ:NVDA) contributed to outperformance, as the company announced better-than-expected fourth quarter earnings driven by a strong rebound in Gaming and an improving outlook for the Datacenter business due to the acceleration of Graphics Processing Unit (GPU) driven Artifical Intelligence (AI) deployment. The company also hosted its Global Technology Conference (GTC) in March where it further highlighted its leading technology being used to develop AI Large Language Models (LLM). The company announced new partnerships with hyperscalers for its AI cloud-based service while also releasing new software and hardware offerings that will support GPU-driven AI growth. Nvidia continues to see a growing addressable market for its products and services as AI uses become more prevalent.”
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NVIDIA Corporation (NASDAQ:NVDA) is in 17th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of the fourth quarter which was 89 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the list of most popular retail investor stocks in 2023. 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.
