SaltLight Capital, an investment management company, released its “SaltLight SNN Worldwide Flexible Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. The second quarter letter is discussing AI. The firm’s investment strategy for AI’s exciting future is guided by prudent caution. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Saltlight Capital highlighted stocks like ASML Holding N.V. (NASDAQ:ASML) in the second quarter 2023 investor letter. Headquartered in Veldhoven, the Netherlands, ASML Holding N.V. (NASDAQ:ASML) develops, produces, markets, sells, and services advanced semiconductor equipment systems. On August 16, 2023, ASML Holding N.V. (NASDAQ:ASML) stock closed at $646.44 per share. One-month return of ASML Holding N.V. (NASDAQ:ASML) was -3.39%, and its shares gained 16.37% of their value over the last 52 weeks. ASML Holding N.V. (NASDAQ:ASML) has a market capitalization of $258.356 billion.
Saltlight Capital made the following comment about ASML Holding N.V. (NASDAQ:ASML) in its second quarter 2023 investor letter:
“ASML Holding N.V. (NASDAQ:ASML) has no competitor. We’d characterise it as a monetary ‘apex’ predator. This privileged position allows the company to capture value within the semiconductor ecosystem. You can see it in their margins and operating leverage. ASML’s customers are so eager for their products that they are willing to pay upfront, two years before a machine is even delivered! This is a testament to the company’s unrivalled capabilities and the high demand for its unique offerings. It will keep this privileged position as long as it continues to push the frontiers of chip density.
ASML announced, this quarter, that their first High-NA machines (costing $200m per machine) are going to start shipping in 2024. This is a new source of its technological moat and earnings for the next decade. For the curious reader, we recommend looking up Extreme Ultraviolet Lithography tools to truly grasp how this technology could be considered ‘magic’ for what it accomplishes.”
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ASML Holding N.V. (NASDAQ:ASML) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held ASML Holding N.V. (NASDAQ:ASML) at the end of second quarter which was 53 in the previous quarter.
We discussed ASML Holding N.V. (NASDAQ:ASML) in another article and shared the list of most valuable companies in the world by market cap. 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.
