Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the composite delivered 1.16% net of fees (1.33% gross of fees) trailing the 5.21% total return of the Russell 2000 Index. The security selection hurt the portfolio while allocation effects positively contributed. Security selection in Communication Services and Materials along with an overweight to Industrials contributed to the relative performance while the Health Care, Information Technology, and Consumer Discretionary sectors detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small Cap Equity Strategy highlighted stocks like Dycom Industries, Inc. (NYSE:DY) in the second quarter 2023 investor letter. Headquartered in Palm Beach Gardens, Florida, Dycom Industries, Inc. (NYSE:DY) provides contracting services to the telecommunications infrastructure and utility industries. On August 24, 2023, Dycom Industries, Inc. (NYSE:DY) stock closed at $99.04 per share. One-month return of Dycom Industries, Inc. (NYSE:DY) was -1.18%, and its shares lost 14.77% of their value over the last 52 weeks. Dycom Industries, Inc. (NYSE:DY) has a market capitalization of $2.904 billion.
Aristotle Small Cap Equity Strategy made the following comment about Dycom Industries, Inc. (NYSE:DY) in its second quarter 2023 investor letter:
“Dycom Industries, Inc. (NYSE:DY), a provider of engineering and construction services to the telecommunications and cable television industries, benefitted from continued growth in its core business and expanding margins as demand for wireline services continues to grow. We maintain a position as we believe the company remains well positioned for longer term growth alongside secular trends for expanding fiber deployments to support faster broadband connectivity speeds and opportunities to deploy fiber to rural or underserved areas across the country.”
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Dycom Industries, Inc. (NYSE:DY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Dycom Industries, Inc. (NYSE:DY) at the end of second quarter which was 30 in the previous quarter.
We discussed Dycom Industries, Inc. (NYSE:DY) in another article and shared SouthernSun Small Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.