Fred Alger Management, an funding administration firm, launched its “Alger Weatherbie Specialized Growth Fund” third quarter 2023 investor letter. A duplicate of the identical will be downloaded here. During the quarter, Class A shares of the fund underperformed the Russell 2500 Growth Index. Healthcare and industrials have been the biggest sector weightings in the course of the quarter. The financials and client discretionary have been the main relative efficiency contributors whereas healthcare and power detracted. In addition, you may test the highest 5 holdings of the fund to know its greatest picks in 2023.
Alger Weatherbie Specialized Growth Fund highlighted shares like Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) within the third quarter 2023 investor letter. Headquartered in Harrisburg, Pennsylvania, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is a retailer of brand-name merchandise. On October 18, 2023, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) inventory closed at $72.09 per share. One-month return of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was -3.23%, and its shares gained 37.37% of their worth over the past 52 weeks. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) has a market capitalization of $4.448 billion.
Alger Weatherbie Specialized Growth Fund made the next remark about Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in its Q3 2023 investor letter:
“Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is a retailer of name identify merchandise equivalent to meals, housewares, books and stationery, mattress and tub merchandise, flooring coverings, electronics and toys. Other merchandise embrace {hardware}, private well being care, sweet, clothes, sporting tools, pet, garden and backyard gadgets. During the interval, shares contributed to efficiency after the corporate reported sturdy fiscal second quarter outcomes, the place revenues beat analyst estimates and administration raised its 2023 full yr steerage. Further, the administration famous that they’re executing at a excessive stage now that offer chain disruptions have eased and consider that the energy seen in the course of the second quarter ought to proceed for the rest of the yr.”
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Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) shouldn’t be on our record of 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) on the finish of second quarter which was 18 within the earlier quarter.
We mentioned Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in another article and shared Argosy Investors’ views on the corporate within the earlier quarter. In addition, please take a look at our hedge fund investor letters Q3 2023 web page for extra investor letters from hedge funds and different main traders.
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Disclosure: None. This article is initially printed at Insider Monkey.
