White Brook Capital Partners, an investment management firm, released its third quarter 2023 investor letter, a copy of which can be downloaded here. White Brook Capital Partners maintains its outperformance against the S&P Midcap 400 year to date, boasting a 6.49% increase compared to the index’s 4.28% gain. However, it falls short of the S&P 500’s impressive gain of 12.85%. Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, White Brook Capital mentioned Apple Inc. (NASDAQ:AAPL) and explained its insights for the company. Apple Inc. (NASDAQ:AAPL) is a Cupertino, California-based multinational technology company with a $3.0 trillion market capitalization. Apple Inc. (NASDAQ:AAPL) delivered a 45.75% return since the beginning of the year, while its 12-month returns are up by 27.93%. The stock closed at $193.42 per share on December 05, 2023.
Here is what White Brook Capital has to say about Apple Inc. (NASDAQ:AAPL) in its Q3 2023 investor letter:
“The magnificent seven, that underpin the S&P 500 performance, which includes Apple Inc. (NASDAQ:AAPL), now comprise almost 30% of the market capitalization of the S&P500. At least three of the seven stocks have heightened downside risk and suffer from already high penetration, weakening end markets, competitive risk, and lofty valuation. They have been remarkably resilient to increased interest rates and the potential for slowing growth. Small and midcap stocks, on the other hand, have been systemically penalized by fears of recession and continue to price that eventuality even as significantly better outcomes have become more probable. Today, it’s relatively easy to find attractive investments in this segment.”
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Our calculations show that Apple Inc. (NASDAQ:AAPL) ranks 10th on our list of the 30 Most Popular Stocks Among Hedge Funds. We also mentioned Apple Inc. (NASDAQ:AAPL) in another article. Apple Inc. (NASDAQ:AAPL) was in 134 hedge fund portfolios at the end of the second quarter of 2023, compared to 135 funds in the previous quarter. Apple Inc. (NASDAQ:AAPL) delivered a 0.92% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.