Direct AI Exposure Pushed Broadcom (AVGO) in Q2
Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Growth & Income Fund” Q2 2023 investor letter. A copy of the same can be downloaded here. The S&P Index closed the quarter with a gain of 8.7%, which made the first half of the year’s return rose 16%. These gains suggest steady growth, but the reality is much more mixed. Macroeconomic fears still exist in the market. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Carillon Eagle Growth & Income Fund highlighted stocks like Broadcom Inc. (NASDAQ:AVGO) in the second quarter 2023 investor letter. Headquartered in San Jose, California, Broadcom Inc. (NASDAQ:AVGO) is a semiconductor devices supplier. On September 8, 2023, Broadcom Inc. (NASDAQ:AVGO) stock closed at $857.55 per share. One-month return of Broadcom Inc. (NASDAQ:AVGO) was 0.40%, and its shares gained 62.09% of their value over the last 52 weeks. Broadcom Inc. (NASDAQ:AVGO) has a market capitalization of $353.941 billion.
Carillon Eagle Growth & Income Fund made the following comment about Broadcom Inc. (NASDAQ:AVGO) in its Q2 2023 investor letter:
"After a major chip manufacturer significantly increased revenue guidance in May because of much higher artificial intelligence (AI) spending, investors looked for other ways to participate in higher capital spending on AI. Broadcom Inc. (NASDAQ:AVGO) shares benefited from the firm’s large direct AI exposure."
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Broadcom Inc. (NASDAQ:AVGO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 72 hedge fund portfolios held Broadcom Inc. (NASDAQ:AVGO) at the end of second quarter which was 72 in the previous quarter.
We discussed Broadcom Inc. (NASDAQ:AVGO) in another article and shared the list of fastest-growing AI stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.