Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The U.S. equity market continued its rise to new record highs, with the S&P 500 Index increasing by 5.89% during the period. Aristotle Atlantic’s Focus Growth strategy returned 2.84% gross of fees (2.82% net of fees) in the quarter underperforming the Russell 1000 Growth Index’s 3.19% total return. The relative outperformance was due to both allocation effects and security selection. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Aristotle Focus Growth Strategy highlighted stocks like S&P Global Inc. (NYSE:SPGI) in the Q3 2024 investor letter. S&P Global Inc. (NYSE:SPGI) offers credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. The one-month return of S&P Global Inc. (NYSE:SPGI) was -5.44%, and its shares gained 26.49% of their value over the last 52 weeks. On October 31, 2024, S&P Global Inc. (NYSE:SPGI) stock closed at $480.36 per share with a market capitalization of $150.272 billion.
Aristotle Focus Growth Strategy stated the following regarding S&P Global Inc. (NYSE:SPGI) in its Q3 2024 investor letter:
“S&P Global Inc. (NYSE:SPGI) contributed to portfolio performance in the third quarter, driven by growth in corporate bond issuance and refinancing activity, with expectations for further acceleration if interest rates decline. The company has also achieved better-than-expected expense and revenue synergies from its acquisition of IHS Markit.”
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S&P Global Inc. (NYSE:SPGI) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 90 hedge fund portfolios held S&P Global Inc. (NYSE:SPGI) at the end of the second quarter which was 97 in the previous quarter. In the third quarter, S&P Global Inc. (NYSE: SPGI) reported a 16% year-over-year increase in total revenue, marking the third consecutive quarter of accelerating revenue growth. While we acknowledge the potential of S&P Global Inc. (NYSE:SPGI) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed S&P Global Inc. (NYSE:SPGI) and shared the list of most profitable large-cap stocks to invest in. In addition, please check out our hedge fund investor letters Q3 2024 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.