ClariVest Asset Management, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Clarivest Capital Appreciation Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. The third quarter of 2023 began strongly in July, but the equity markets were unable to withstand the ongoing upward momentum in interest rates, and many indexes ended the quarter in the negative. When compared to the Russell 1000 Growth Index at the beginning of the quarter, the fund was most underweight in communication and consumer discretionary services and most overweight in the information technology and healthcare sectors. By the end of the quarter, the portfolio remained the most underweight consumer discretionary and consumer staples and most overweight information technology and healthcare. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Carillon Clarivest Capital Appreciation Fund highlighted stocks like Eli Lilly and Company (NYSE:LLY) in the third quarter 2023 investor letter. Headquartered in Indianapolis, Indiana, Eli Lilly and Company (NYSE:LLY) is a pharmaceutical company. On December 7, 2023, Eli Lilly and Company (NYSE:LLY) stock closed at $588.27 per share. One-month return of Eli Lilly and Company (NYSE:LLY) was -1.58%, and its shares gained 62.96% of their value over the last 52 weeks. Eli Lilly and Company (NYSE:LLY) has a market capitalization of $558.449 billion.
Carillon Clarivest Capital Appreciation Fund made the following comment about Eli Lilly and Company (NYSE:LLY) in its Q3 2023 investor letter:
"Eli Lilly and Company (NYSE:LLY), the drug manufacturer, announced the completion of previously disclosed acquisitions of Versanis Bio and Sigilon Therapeutics, as it continues to expand its pipeline for diabetes and weight-loss medications. Shares gained after its sales and earnings per share exceeded estimates and a competitor’s study on the beneficial results of these treatments reported positive data."
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Eli Lilly and Company (NYSE:LLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 102 hedge fund portfolios held Eli Lilly and Company (NYSE:LLY) at the end of third quarter which was 87 in the previous quarter.
We discussed Eli Lilly and Company (NYSE:LLY) in another article and shared Chase Coleman's top stock picks. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.