Investment management company Ave Maria recently released its “Ave Maria Focused Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -2.37% compared to the S&P MidCap 400 Growth Index’s -3.25% return. Year-to-date the fund returned 21.03% compared to the 6.88% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.
Ave Maria Focused Fund highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in the third quarter 2023 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) provides computer graphics processors, chipsets, and related multimedia software. On December 15, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $488.90 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was -0.83%, and its shares gained 195.03% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $1.208 trillion.
Ave Maria Focused Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:
“The Fund added two new positions in the quarter. The Fund initiated a position in Apollo, which grew to be 5.9% of the Fund’s assets by the end of the quarter. The Fund also initiated a small position in NVIDIA Corporation (NASDAQ:NVDA), which is the leading manufacturer of graphic processing units that are the computing power behind much of the artificial intelligence industry environment supporting the broader group of energy infrastructure stocks.”
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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, 180 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of third quarter which was 175 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the list of best Stan Druckenmiller stocks other billionaires are also piling into. 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.