Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market rebounded in the fourth quarter as the S&P 500 Index rose 11.69%. Aristotle Atlantic’s Focus Growth strategy returned 15.02% gross of fees (14.99% net of fees), in the quarter outperforming the Russell 1000 Growth Index’s 14.16% total return. The relative outperformance was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Atlantic Focus Growth Strategy featured stocks such as ServiceNow, Inc. (NYSE:NOW) in the fourth quarter 2023 investor letter. Headquartered in Santa Clara, California, ServiceNow, Inc. (NYSE:NOW) is an enterprise cloud computing solutions provider. On February 12, 2024, ServiceNow, Inc. (NYSE:NOW) stock closed at $787.35 per share. One-month return of ServiceNow, Inc. (NYSE:NOW) was 8.22%, and its shares gained 70.66% of their value over the last 52 weeks. ServiceNow, Inc. (NYSE:NOW) has a market capitalization of $161.407 billion.
Aristotle Atlantic Focus Growth Strategy stated the following regarding ServiceNow, Inc. (NYSE:NOW) in its fourth quarter 2023 investor letter:
“ServiceNow, Inc. (NYSE:NOW) contributed to portfolio performance during the fourth quarter, as investors focused on improving momentum across the NOW platform following strong third quarter results at the end of October. In addition, ServiceNow continues to announce new product enhancements to the platform to support artificial intelligence (AI) capabilities with early signs of customer adoption.”
A data centre room with cloud technology, illustrating the enterprise application software services.
ServiceNow, Inc. (NYSE:NOW) is in 24th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 99 hedge fund portfolios held ServiceNow, Inc. (NYSE:NOW) at the end of third quarter which was 93 in the previous quarter.
We discussed ServiceNow, Inc. (NYSE:NOW) in another article and shared Ithaka US Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.