Giverny Capital Asset Management, LLC, an investment management company, recently published its third-quarter 2023 investor letter. A copy of the same can be downloaded here. The firm’s model portfolio returned -3.01% (net) in the third quarter compared to -3.27% return for the S&P 500 Total Return Index. YTD, the fund returned 11.02% compared to the 13.07% return for the Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Giverny Capital Asset Management highlighted stocks like Arista Networks, Inc. (NYSE:ANET) in the third quarter 2023 investor letter. Headquartered in Santa Clara, California, Arista Networks, Inc. (NYSE:ANET) provides cloud networking solutions. On November 6, 2023, Arista Networks, Inc. (NYSE:ANET) stock closed at $212.81 per share. One-month return of Arista Networks, Inc. (NYSE:ANET) was 8.36%, and its shares gained 62.97% of their value over the last 52 weeks. Arista Networks, Inc. (NYSE:ANET) has a market capitalization of $66.205 billion.
Giverny Capital Asset Management made the following comment about Arista Networks, Inc. (NYSE:ANET) in its Q3 2023 investor letter:
“We modestly trimmed Arista Networks, Inc. (NYSE:ANET) as it reached an 8% weight in our portfolio. As I write this, Arista is up about 60% for the year, and it continued rising after our trims. Arista remains our second largest holding, ending the quarter at 7.1% of the portfolio.”
A technician in a server room managing a large-scale network of computers.
Arista Networks, Inc. (NYSE:ANET) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held Arista Networks, Inc. (NYSE:ANET) at the end of second quarter which was 48 in the previous quarter.
We discussed Arista Networks, Inc. (NYSE:ANET) in another article and shared the list of stocks with the potential to explode. In addition, please check out our hedge fund investor letters Q3 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.