Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 12.12% net of fees, outperforming the 6.23% return of the Russell 2000 Index. Security selection contributed to the outperformance of the strategy in the quarter. Furthermore, the strategy benefitted from overweight allocation in Industrials and underweight exposure in Communication Services. For the calendar year, the strategy generated a ‐10.13% net of fees return compared to the Russell 2000 Index’s ‐20.44% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Small Cap Equity Strategy highlighted stocks like Adeia Inc. (NASDAQ:ADEA) in its Q4 2022 investor letter. Headquartered in San Jose, California, Adeia Inc. (NASDAQ:ADEA) is a media and semiconductor intellectual property licensing company. On March 24, 2023, Adeia Inc. (NASDAQ:ADEA) stock closed at $8.05 per share. One-month return of Adeia Inc. (NASDAQ:ADEA) was -17.52%, and its shares lost 0.43% of their value over the last 52 weeks. Adeia Inc. (NASDAQ:ADEA) has a market capitalization of $847.102 million.
Aristotle Small Cap Equity Strategy made the following comment about Adeia Inc. (NASDAQ:ADEA) in its Q4 2022 investor letter:
“Adeia Inc. (NASDAQ:ADEA), is an intellectual property (IP) licensing business, focused on the media and semiconductor end markets. We inherited shares of Adeia via a spinoff from existing holding Xperi Holdings during the quarter. We maintain our investment in the company, as we assess the risk‐reward profile of the standalone business.”
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Adeia Inc. (NASDAQ:ADEA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held Adeia Inc. (NASDAQ:ADEA) at the end of the fourth quarter which was 4 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 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.