Investment management company Ave Maria recently released its “Ave Maria Growth Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The total return of the fund in the second quarter was 8.55% compared to an 8.74% return for the S&P 500 Index. Year-to-date the fund returned 18.64% compared to 16.89% return for the benchmark. You can check the top 5 holdings of the fund to know its best picks in 2023.
Ave Maria Growth Fund highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in the second quarter 2023 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) provides computer graphics processors, chipsets, and related multimedia software. On September 19, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $435.20 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was -7.63%, and its shares gained 228.18% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $1.075 trillion.
Ave Maria Growth Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q2 2023 investor letter:
“NVIDIA Corporation (NASDAQ:NVDA) designs semiconductor chips which specialize in running artificial intelligence and machine learning applications. The company maintains a lead over competitors by producing the highest performing chips and by supplying the market with the proprietary software on which most AI and machine learning applications operate. NVIDIA’s stock price is up 190% this year as insatiable demand for AI chips has fueled rapid revenue growth at an unprecedented scale.”
Photo by Christian Wiediger on Unsplash
NVIDIA Corporation (NASDAQ:NVDA) is in 17th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 175 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of second quarter which was 132 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the list of tech stocks to sel according to Cathie Wood. In addition, please check out our hedge fund investor letters Q2 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.