Ithaka US Growth Strategy recently released its Q1 2023 Investor Letter, revealing that the fund’s performance returned 21.8% gross and 21.7% net compared to the Russell 1000 Growth Index, which grew at only 14.4% in the same period. The fund’s success was largely attributed to stock selection, with sector allocation only accounting for a small percentage of the growth.
In the letter, Microsoft Corporation (MSFT) was specifically highlighted, with Ithaka US Growth Strategy stating that it was the first pick on its list of the 30 most popular stocks among hedge funds. The multinational software company, headquartered in Redmond, Washington, develops, licenses and provides software, services, devices, and solutions. Microsoft’s market capitalization currently stands at $2.56 trillion, with its one-month return sitting at 2.05% and shares increasing in value by 26.90% over the past year.
According to Ithaka’s database, 289 hedge fund portfolios held Microsoft at the end of Q1 2023, which is an increase from 259 in the previous quarter. The firm also published a list of A-rated stocks that billionaires are currently investing in, including Microsoft Corporation.
This news was originally published on Insider Monkey, who advise investors on where the big money is going by analyzing insider trading data and hedge fund activity. The publication advises that any investment decisions should be made with the guidance of a financial advisor.
Overall, Ithaka US Growth Strategy’s successful performance highlights the importance of stock selection in the investment industry, and Microsoft’s popularity among hedge funds only adds to its reputation as a valuable stock to invest in.
Frequently Asked Questions (FAQs) Related to the Above News
What is Ithaka US Growth Strategy's Q1 2023 Investor Letter?
Ithaka US Growth Strategy's Q1 2023 Investor Letter is a report that reveals the fund's performance in the first quarter of 2023.
What was the fund's performance in Q1 2023?
According to the letter, the fund's performance returned 21.8% gross and 21.7% net, compared to the Russell 1000 Growth Index, which grew at only 14.4% in the same period.
What was attributed to the fund's success?
The fund's success was largely attributed to stock selection, with sector allocation only accounting for a small percentage of the growth.
Which company was specifically highlighted in the letter?
Microsoft Corporation (MSFT) was specifically highlighted in the letter.
What is Microsoft's market capitalization?
Microsoft's market capitalization currently stands at $2.56 trillion.
How much have Microsoft's shares increased in value over the past year?
Microsoft's shares have increased in value by 26.90% over the past year.
How many hedge fund portfolios held Microsoft at the end of Q1 2023?
According to Ithaka's database, 289 hedge fund portfolios held Microsoft at the end of Q1 2023, which is an increase from 259 in the previous quarter.
What did Insider Monkey advise investors?
Insider Monkey advised investors on where the big money is going by analyzing insider trading data and hedge fund activity. The publication advises that any investment decisions should be made with the guidance of a financial advisor.
What does Ithaka US Growth Strategy's successful performance highlight?
Ithaka US Growth Strategy's successful performance highlights the importance of stock selection in the investment industry.
What does Microsoft's popularity among hedge funds add to its reputation?
Microsoft's popularity among hedge funds only adds to its reputation as a valuable stock to invest in.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
