Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Core Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed its benchmark index, the Russell 2000 Growth which gained 4.13%. The Russell 2000 Index rose 6.23% in the same period. The stock price strength of healthcare holdings led to the outperformance of the strategy in the quarter relative to the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Wasatch Small Cap Core Growth Strategy highlighted stocks like Altra Industrial Motion Corp. (NASDAQ:AIMC) in the Q4 2022 investor letter. Headquartered in Braintree, Massachusetts, Altra Industrial Motion Corp. (NASDAQ:AIMC) designs and produces electromechanical power transmission motion control products. On March 20, 2023, Altra Industrial Motion Corp. (NASDAQ:AIMC) stock closed at $61.11 per share. One-month return of Altra Industrial Motion Corp. (NASDAQ:AIMC) was -0.67%, and its shares gained 50.48% of their value over the last 52 weeks. Altra Industrial Motion Corp. (NASDAQ:AIMC) has a market capitalization of $3.994 billion.
Wasatch Small Cap Core Growth Strategy made the following comment about Altra Industrial Motion Corp. (NASDAQ:AIMC) in its Q4 2022 investor letter:
“We made relatively minor portfolio transactions during the fourth quarter. For example, we sold Altra Industrial Motion Corp. (NASDAQ:AIMC)—which is described below. The strongest contributor to strategy performance during the quarter was the aforementioned Altra Industrial Motion Corp. The company manufactures motion-control and power-transmission products for industrial applications. Altra’s share price rocketed higher in October after the company agreed to be acquired by a larger competitor at a substantial premium to the then-current stock price.”
Photo by Ant Rozetsky on Unsplash
Altra Industrial Motion Corp. (NASDAQ:AIMC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Altra Industrial Motion Corp. (NASDAQ:AIMC) at the end of the fourth quarter which was 15 in the previous quarter.
We discussed Altra Industrial Motion Corp. (NASDAQ:AIMC) in another article and shared holdings of billionaire investor George Soros. In addition, please check out our hedge fund investor letters Q4 2022 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.
