Aristotle Atlantic Partners
Core Equity

Strategy Overview

  • Fundamental, bottom-up analysis with an emphasis on secular themes, product cycles and cyclical trends
  • Overlay risk controls seeking to maximize the impact of stock selection
  • Select companies we believe are positioned to benefit from longer‐term shifts in spending across various industries and geographies
  • Objective is to achieve consistent risk‐adjusted returns that exceed the benchmark over a full market cycle (three to five years)


All portfolio holdings must meet the following three criteria:

  • Investment Pillars: We buy companies that we believe are primed to benefit from strong product cycles.
  • Attractive Valuation: Our fundamental, bottom‐up analysis seeks to identify companies with attractive valuations.
  • Strict Risk Control: Portfolios are constructed with a strict risk control methodology and adherence to a stringent buy/sell discipline.

Strategy Inception Date: August 1, 20131

Assets: $1,334.9 million (as of 6/30/2024)

The AUM Assets figure provided above represent $819.6 million of Core Equity and $515.3 million of Focus Core.

Holdings: 45-60

Benchmark: S&P 500 Index

Cash: Maximum 10%; Average < 2%

Market Cap Range: Over $2 billion at purchase

Annual Turnover: Approximately 25%

Sector Weights: 0%-200% of Index for sectors 1%-10%; 50%–150% of Index for sectors > 10%

Vehicles Offered: Separate Account; Mutual Fund

Individual Position Size: Maximum 5% at cost (unless benchmark weight > 3%)

As of: 6/30/2024


Trailing (%) QTD YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs Since Inception1
Core Equity Composite (Gross) 5.61 18.31 27.10 8.46 15.01 13.55 14.28
Core Equity Composite (Net) 5.51 18.08 26.61 8.02 14.54 13.05 13.76
S&P 500 Index 4.28 15.29 24.56 10.00 15.03 12.85 13.47
Calendar Year (%) 2023 2022 2021 2020 2019 2018 2017
Core Equity Composite (Gross) 23.84 -21.61 25.07 26.80 35.85 -4.96 22.30
Core Equity Composite (Net) 23.34 -21.94 24.55 26.30 35.30 -5.36 21.85
S&P 500 Index 26.29 -18.11 28.71 18.40 31.49 -4.38 21.83
1The Aristotle Core Equity Composite has an inception date of August 1, 2013 at a predecessor firm. During this time, Mr. Fitzpatrick had primary responsibility for managing the strategy. Performance starting November 1, 2016 was achieved at Aristotle Atlantic.
Past Performance is not indicative of future results. Performance results for periods greater than one year have been annualized. Returns are presented gross and net of actual investment advisory fees and include the reinvestment of all income. Gross returns will be reduced by fees and other expenses that may be incurred in the management of the account. Net returns are presented net of actual investment advisory fees and after the deduction of all trading expenses. Please see important disclosures at the bottom of this web page.


  Core Equity S&P 500 Index
Number of Holdings 51 500
Active Share (%) 56.8
Wtd. Avg. Market Cap ($B) 1,090.2 1,011.0
Price/Earnings (TTM) 28.2x 24.0x
Price/Book Value 7.2x 6.4x
Forward EPS Growth (5 Yrs, %) 16.5 15.9
Return on Equity (1 Yr, %) 26.4 21.3
Debt/Equity (TTM) 0.8 1.2

The Portfolio Characteristics shown are based on a representative account. Please see important disclosures at the bottom of this web page.

Market Cap Breakdown (%)

Largest Holdings (%)

Microsoft 8.8
Nvidia 7.8
Alphabet 6.0
Apple 5.5
Amazon 4.7
Meta Platforms 3.3
Broadcom 3.2
JPMorgan Chase 2.8
Costco Wholesale 2.5
Total 46.7

Sector Weights (%)

Sources: SS&C Advent, FactSet, Standard & Poor’s, eVestment
The Largest Holdings figures shown are based on the model portfolio. The Market Cap Breakdown and Portfolio Characteristics figures shown are based on a representative account. The Sector Weights figures shown are based on the representative portfolio within the Aristotle Core Equity Composite (the Composite) and excludes cash. The representative account was chosen since, in our view, it is the account within the Composite that most closely reflects the portfolio management style of the strategy. Not every client’s account will have these exact characteristics. The actual characteristics with respect to any particular client account will vary based on a number of factors, including but not limited to: (i) the size of the account; (ii) investment restrictions applicable to the account, if any; and (iii) market exigencies at the time of investment. You should not assume that any of the securities transactions, sectors or holdings discussed in this report are or will be profitable or that recommendations Aristotle Atlantic Partners, LLC (Aristotle Atlantic) makes in the future will be profitable or equal the performance of the securities listed in this report. There is no assurance that any securities, sectors or industries discussed herein will be included in or excluded from an account’s portfolio. Aristotle Atlantic reserves the right to modify its current investment strategies and techniques based on changing market dynamics or client needs. This is not a recommendation to buy or sell a particular security. Recommendations made in the last 12 months are available upon request. Past performance is not indicative of future results. The S&P 500® Index is the Standard & Poor’s Composite Index of 500 stocks and is a widely recognized, unmanaged index of common stock prices. The volatility (beta) of the Composite may be greater or less than that of the benchmark. It is not possible to invest directly in this index. Active Share is a measure of the percentage of stock holdings in a manager’s portfolio that differ from the benchmark index. Weighted Average Market Capitalization is a dollar-value measurement of the size of companies in a portfolio or index. In such a weighting scheme, an average figure is derived from the market capitalizations of each company (their market prices multiplied by the number of shares outstanding) multiplied by their weights in the portfolio or index. Forward EPS Growth is the percentage increase or decrease in the next five years’ earnings estimates compared to current year’s earnings estimates. Return on Equity is the amount of net income returned as a percentage of shareholders’ equity. Return on equity measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested. Debt to Equity ratio is used to measure a company’s financial leverage, calculated by dividing a company’s total liabilities by its shareholders’ equity. The ratio indicates how much debt a company is using to finance its assets relative to the amount of value represented in shareholders’ equity.

All investments carry a certain degree of risk, including the possible loss of principal. Investments are also subject to political, market, currency and regulatory risks or economic developments. International investments involve special risks that may in particular cause a loss in principal, including currency fluctuation, lower liquidity, different accounting methods and economic and political systems, and higher transaction costs. These risks typically are greater in emerging markets. Securities of small- and medium-sized companies tend to have a shorter history of operations, be more volatile and less liquid. Value stocks can perform differently from the market as a whole and other types of stocks. The material is provided for informational and/or educational purposes only and is not intended to be and should not be construed as investment, legal or tax advice and/or a legal opinion. Investors should consult their financial and tax adviser before making investments. The opinions referenced are as of the date of publication, may be modified due to changes in the market or economic conditions, and may not necessarily come to pass. Information and data presented has been developed internally and/or obtained from sources believed to be reliable. Aristotle Atlantic does not guarantee the accuracy, adequacy or completeness of such information.

Aristotle Atlantic Partners, LLC is an independent investment adviser registered under the Investment Advisers Act of 1940, as amended. Registration does not imply a certain level of skill or training. More information about Aristotle Atlantic, including our investment strategies, fees and objectives, can be found in our Form ADV Part 2, which is available upon request.


Loading the posts

Explore our recent resources &