Aristotle Atlantic Focus Growth Strategy

What it bought and sold

• New positionCoherent Corp.Jun 2026

  Coherent is a vertically integrated manufacturing company that develops, manufactures and markets lasers, transceivers, and other optical and optoelectronic devices, modules, and systems, as well as engineered materials, for use in the communications, industrial, instrumentation and electronics markets.

• New positionAmphenol CorporationJun 2026

  Amphenol is one of the world’s largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors and interconnect systems; antennas; sensors and sensor-based products; and coaxial, high-speed and specialty cable.

• New positionWestern Digital CorporationJun 2026

  We initiated Western Digital because we view the company as providing picks-and-shovels exposure to the AI memory bottleneck,

• New positionSandisk CorporationJun 2026

  We initiated Sandisk as a complementary picks-and-shovels investment opportunity tied to the AI memory bottleneck,

• ExitedHubSpot, Inc.Jun 2026

  We sold HubSpot because its core value proposition—an easy-to-use, all-in-one go-to-market platform—is becoming increasingly replicable by AI-native agents

Also held

• Netflix, Inc.
• Guardant Health, Inc.
• KLA Corporation
• Darling Ingredients Inc.

Its investment theses

• KLA CorporationJun 2026KLA Corporation benefits from the AI-driven semiconductor equipment upcycle and its dominant process control market share.
• AmphenolJun 2026Amphenol offers diversified exposure to interconnect demand, with AI data centers, electrification, and acquisitions supporting growth and returns.
• CoherentJun 2026Coherent is positioned to benefit from the shift to optical networking in AI data centers, supported by vertical integration and NVIDIA partnership.
• SandiskJun 2026Sandisk is a picks-and-shovels play on the AI memory bottleneck, with constrained supply, pricing power, and customer contracts supporting upside.
• Western DigitalJun 2026Western Digital is a disciplined, cash-generative storage company positioned to benefit from AI and cloud data demand.
• HubSpotJun 2026HubSpot faces competitive pressure from AI-native alternatives that could replicate its go-to-market software.

Every letter