Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Mid Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Equities rose early in the quarter on the back of a broader appetite for risk, however, they eventually fell when interest rates crossed 4%. Value and growth stocks performed similarly in the market’s large- and mid-cap categories. On the other hand, value stocks proved to be more defensive in the small-cap group. The Russell Midcap Value Index fell 4.5%, with only the energy and financials sectors seeing gains. Healthcare, communication services, and consumer staples detracted. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Chartwell Mid Cap Value Fund highlighted stocks like Tenet Healthcare Corporation (NYSE:THC) in the third quarter 2023 investor letter. Headquartered in Dallas, Texas, Tenet Healthcare Corporation (NYSE:THC) is a diversified healthcare services company. On December 22, 2023, Tenet Healthcare Corporation (NYSE:THC) stock closed at $75.75 per share. One-month return of Tenet Healthcare Corporation (NYSE:THC) was 11.40%, and its shares lost 62.41% of their value over the last 52 weeks. Tenet Healthcare Corporation (NYSE:THC) has a market capitalization of $7.706 billion.
Carillon Chartwell Mid Cap Value Fund made the following comment about Tenet Healthcare Corporation (NYSE:THC) in its Q3 2023 investor letter:
“The Russell Midcap Value Index declined 4.5%, with only the energy and financials sectors generating positive returns. The healthcare, communication services, and consumer staples sectors were the weakest. Tenet Healthcare Corporation (NYSE:THC) operates hospitals and ambulatory surgery centers. The prospect of accelerating labor cost inflation weighed on investor sentiment.”
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Tenet Healthcare Corporation (NYSE:THC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held Tenet Healthcare Corporation (NYSE:THC) at the end of third quarter which was 74 in the previous quarter.
We discussed Tenet Healthcare Corporation (NYSE:THC) in another article and shared Meridian Funds’ views on the company in the previous quarter. 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.