Latest news with #RenaissanceInvestmentManagement
Yahoo
23-05-2025
- Business
- Yahoo
Here's Why Renaissance Large Cap Growth Strategy Exited Its Position in Honeywell International (HON)
Renaissance Investment Management, an investment management company, released its Q1 2025 'Large Cap Growth Strategy' investor letter. A copy of the letter can be downloaded here. The S&P 500 experienced a 4.3% loss in Q1 due to uncertainty in technology stock valuations and US economic policies. However, seven sectors showed positive returns, with Energy, Health Care, and Utilities sectors showing the strongest performance. The S&P 500 has not experienced a significant correction since 2023, which can be expected to occur every couple of years. However, there are still good investment opportunities in high-quality, reasonably priced stocks that have not matched concentrated market indices. The S&P 500 (-4.3%) and Russell 1000 Growth Index (-10%) declined in Q1, with large-cap stocks outperforming smaller-cap stocks and Value outperforming Growth. For the quarter, the strategy exceeded the Russell 1000 Growth benchmark and lagged the S&P 500. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, Renaissance Large Cap Growth Strategy highlighted stocks such as Honeywell International Inc. (NASDAQ:HON). Honeywell International Inc. (NASDAQ:HON) is an innovation and technology company that provides aerospace technologies, industrial automation, building automation, and energy and sustainable solutions. The one-month return of Honeywell International Inc. (NASDAQ:HON) was 11.40%, and its shares gained 12.16% of their value over the last 52 weeks. On May 22, 2025, Honeywell International Inc. (NASDAQ:HON) stock closed at $223.63 per share with a market capitalization of $143.72 billion. Renaissance Large Cap Growth Strategy stated the following regarding Honeywell International Inc. (NASDAQ:HON) in its Q1 2025 investor letter: "We also sold our position in Honeywell International Inc. (NASDAQ:HON) following a deterioration in fundamental factors and following several quarters of disappointing operating results. Honey well faces subdued demand from its industrial segment as customers continue to digest post COVID spending, leading to a shortfall in our short-cycle product growth expectations. We believe it is prudent to move to the sidelines as these external forces will likely remain challenges for the foreseeable future." A shot of a commercial plane with a blur of color in the background, representing the production of auxiliary power units in the Safety and Productivity Solutions segment. Honeywell International Inc. (NASDAQ:HON) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Honeywell International Inc. (NASDAQ:HON) at the end of the fourth quarter, compared to 55 in the third quarter. While we acknowledge the potential of Honeywell International Inc. (NASDAQ:HON) 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 undervalued AI stock set for massive gains. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Stable and Predictable Business Model Lifted Brown & Brown (BRO) in Q1
Renaissance Investment Management, an investment management company, released its Q1 2025 'Large Cap Growth Strategy' investor letter. A copy of the letter can be downloaded here. The S&P 500 experienced a 4.3% loss in Q1 due to uncertainty in technology stock valuations and US economic policies. However, seven sectors showed positive returns, with Energy, Health Care, and Utilities sectors showing the strongest performance. The S&P 500 has not experienced a significant correction since 2023, which can be expected to occur every couple of years. However, there are still good investment opportunities in high-quality, reasonably priced stocks that have not matched concentrated market indices. The S&P 500 (-4.3%) and Russell 1000 Growth Index (-10%) declined in Q1, with large-cap stocks outperforming smaller-cap stocks and Value outperforming Growth. For the quarter, the strategy exceeded the Russell 1000 Growth benchmark and lagged the S&P 500. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, Renaissance Large Cap Growth Strategy highlighted stocks such as Brown & Brown, Inc. (NYSE:BRO). Headquartered in Daytona Beach, Florida, Brown & Brown, Inc. (NYSE:BRO) provides insurance products and services. The one-month return of Brown & Brown, Inc. (NYSE:BRO) was -5.75%, and its shares gained 24.55% of their value over the last 52 weeks. On May 21, 2025, Brown & Brown, Inc. (NYSE:BRO) stock closed at $110.99 per share with a market capitalization of $31.813 billion. Renaissance Large Cap Growth Strategy stated the following regarding Brown & Brown, Inc. (NYSE:BRO) in its Q1 2025 investor letter: "Brown & Brown, Inc. (NYSE:BRO) was another top performer. The stock benefited from the company's stable and predictable business model, seen as a desirable attribute in the current economic environment. In addition, Brown & Brown currently sees solid pricing trends, which should support near-term growth projections." A close-up of an insurance product while an employee explains its features to a customer. Brown & Brown, Inc. (NYSE:BRO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held Brown & Brown, Inc. (NYSE:BRO) at the end of the fourth quarter compared to 35 in the third quarter. In the first quarter, Brown & Brown, Inc. (NYSE:BRO) reported revenue of $1.4 billion, representing an 11.6% year-over-year. While we acknowledge the potential of Brown & Brown, Inc. (NYSE:BRO) 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 undervalued AI stock set for massive gains. In another article, we covered Brown & Brown, Inc. (NYSE:BRO) and shared Madison Mid Cap Fund's views on the company. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Will Copart (CPRT) Benefit from Increased Vehicle Complexity?
Renaissance Investment Management, an investment management company, released its Q1 2025 'Large Cap Growth Strategy' investor letter. A copy of the letter can be downloaded here. The S&P 500 experienced a 4.3% loss in Q1 due to uncertainty in technology stock valuations and US economic policies. However, seven sectors showed positive returns, with Energy, Health Care, and Utilities sectors showing the strongest performance. The S&P 500 has not experienced a significant correction since 2023, which can be expected to occur every couple of years. However, there are still good investment opportunities in high-quality, reasonably priced stocks that have not matched concentrated market indices. The S&P 500 (-4.3%) and Russell 1000 Growth Index (-10%) declined in Q1, with large-cap stocks outperforming smaller-cap stocks and Value outperforming Growth. For the quarter, the strategy exceeded the Russell 1000 Growth benchmark and lagged the S&P 500. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, Renaissance Large Cap Growth Strategy highlighted stocks such as Copart, Inc. (NASDAQ:CPRT). Copart, Inc. (NASDAQ:CPRT) is an online auction and vehicle remarketing services providing company. The one-month return of Copart, Inc. (NASDAQ:CPRT) was -1.42%, and its shares gained 14.14% of their value over the last 52 weeks. On May 21, 2025, Copart, Inc. (NASDAQ:CPRT) stock closed at $61.09 per share, with a market capitalization of $59.019 billion. Renaissance Large Cap Growth Strategy stated the following regarding Copart, Inc. (NASDAQ:CPRT) in its Q1 2025 investor letter: "During the first quarter, we made several changes to further improve the overall quality of our portfolio. We added a new position in the Industrials sector with Copart, Inc. (NASDAQ:CPRT), the largest provider of salvage-car auctions through the company's network of physical auction yards and online platforms. We particularly like the company's competitive position, where their leading position provides advantages of connecting buyers and sellers, and its logistical infrastructure. Looking forward, we believe the company should benefit from increasing vehicle complexity, resulting in both higher frequency of total losses and higher prices for salvaged autos." A busy car auction being held at a leading car dealership, buyers and sellers engaging in active bidding. Copart, Inc. (NASDAQ:CPRT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held Copart, Inc. (NASDAQ:CPRT) at the end of the fourth quarter, compared to 48 in the third quarter. While we acknowledge the potential of Copart, Inc. (NASDAQ:CPRT) 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 undervalued AI stock set for massive gains. In another article, we covered Copart, Inc. (NASDAQ:CPRT) and shared the list of best counter cyclical stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Arista Networks (ANET) Slid on Investor Doubts Over Capital Sustainability
Renaissance Investment Management, an investment management company, released its Q1 2025 'Large Cap Growth Strategy' investor letter. A copy of the letter can be downloaded here. The S&P 500 experienced a 4.3% loss in Q1 due to uncertainty in technology stock valuations and US economic policies. However, seven sectors showed positive returns, with Energy, Health Care, and Utilities sectors showing the strongest performance. The S&P 500 has not experienced a significant correction since 2023, which can be expected to occur every couple of years. However, there are still good investment opportunities in high-quality, reasonably priced stocks that have not matched concentrated market indices. The S&P 500 (-4.3%) and Russell 1000 Growth Index (-10%) declined in Q1, with large-cap stocks outperforming smaller-cap stocks and Value outperforming Growth. For the quarter, the strategy exceeded the Russell 1000 Growth benchmark and lagged the S&P 500. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, Renaissance Large Cap Growth Strategy highlighted stocks such as Arista Networks, Inc. (NYSE:ANET). Arista Networks, Inc. (NYSE:ANET) is a technology company that engages in the development and distribution of data-driven, client-to-cloud networking solutions. The one-month return of Arista Networks Inc. (NYSE:ANET) was 22.77%, and its shares gained 22.66% of their value over the last 52 weeks. On May 21, 2025, Arista Networks Inc. (NYSE:ANET) stock closed at $92.43 per share with a market capitalization of $116.085 billion. Renaissance Large Cap Growth Strategy stated the following regarding Arista Networks Inc (NYSE:ANET) in its Q1 2025 investor letter: "Arista Networks Inc (NYSE:ANET) dropped after reporting in-line forward guidance, leading to increasing questions around the sustainability of capital investments that have driven the company's growth. While we were disappointed with Arista's stock reaction, we remain encouraged by strong demand for the company's data center switching products, which remain essential to the secular growth of cloud computing." A technician in a server room managing a large-scale network of computers. Arista Networks Inc (NYSE:ANET) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held Arista Networks Inc (NYSE:ANET) at the end of the fourth quarter which was 70 in the previous quarter. Arista Networks Inc (NYSE:ANET) achieved a significant milestone in Q1 2025, exceeding $2 billion in revenue for the first time, which reflects a 27.6% year-over-year increase. While we acknowledge the potential of Arista Networks Inc (NYSE:ANET) 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 undervalued AI stock set for massive gains. In another article, we covered Arista Networks Inc (NYSE:ANET) and shared the list of stocks that were discussed by Jim Cramer. In its investor letter for Q1 2025, Deep Sail Capital emphasized Arista Networks (NYSE:ANET), highlighting the company's strong position in cloud networking and AI-driven infrastructures. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
22-05-2025
- Business
- Yahoo
Broadcom (AVGO) Slid in Q1 Despite Reporting Robust Results
Renaissance Investment Management, an investment management company, released its Q1 2025 'Large Cap Growth Strategy' investor letter. A copy of the letter can be downloaded here. The S&P 500 experienced a 4.3% loss in Q1 due to uncertainty in technology stock valuations and US economic policies. However, seven sectors showed positive returns, with Energy, Health Care, and Utilities sectors showing the strongest performance. The S&P 500 has not experienced a significant correction since 2023, which can be expected to occur every couple of years. However, there are still good investment opportunities in high-quality, reasonably priced stocks that have not matched concentrated market indices. The S&P 500 (-4.3%) and Russell 1000 Growth Index (-10%) declined in Q1, with large-cap stocks outperforming smaller-cap stocks and Value outperforming Growth. For the quarter, the strategy exceeded the Russell 1000 Growth benchmark and lagged the S&P 500. For more information on the fund's best picks in 2025, please check its top five holdings. In its first-quarter 2025 investor letter, Renaissance Large Cap Growth Strategy highlighted stocks such as Broadcom Inc. (NASDAQ:AVGO). Broadcom Inc. (NASDAQ:AVGO) designs and develops various semiconductor and infrastructure software solutions. The one-month return of Broadcom Inc. (NASDAQ:AVGO) was 22.10%, and its shares gained 64.88% of their value over the last 52 weeks. On May 21, 2025, Broadcom Inc. (NASDAQ:AVGO) stock closed at $229.73 per share with a market capitalization of $1.08 trillion. Renaissance Large Cap Growth Strategy stated the following regarding Broadcom Inc. (NASDAQ:AVGO) in its Q1 2025 investor letter: "On the negative side, Broadcom Inc. (NASDAQ:AVGO) declined despite reporting strong operating results driven by demand for artificial intelligence semiconductors and connectivity solutions. We believe Broadcom will continue to see growth from future large-scale AI deployments and a shift to AI inferencing. However, semiconductor stocks in general underperformed in the first quarter, following the launch of a low-cost artificial intelligence model from China." A technician working at a magnified microscope, developing a new integrated circuit. Broadcom Inc. (NASDAQ:AVGO) is in 12th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 161 hedge fund portfolios held Broadcom Inc. (NASDAQ:AVGO) at the end of the fourth quarter, compared to 128 in the third quarter. While we acknowledge the potential of Broadcom Inc. (NASDAQ:AVGO) 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 undervalued AI stock set for massive gains. In another article, we covered Broadcom Inc. (NASDAQ:AVGO) and shared the list of AI stocks on analysts' radar. Despite the selloff, ClearBridge Large Cap Value Strategy maintained its position in Broadcom Inc. (NASDAQ:AVGO), confident in its AI-driven growth potential. In addition, please check out our hedge fund investor letters Q1 2025 page for more investor letters from hedge funds and other leading investors. READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
