Aristotle Atlantic Partners, LLC, an investment management company, released its “Core Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 12.95% gross of fees (12.84% net of fees), outperforming the S&P 500 Index, which recorded a total return of 11.69%. Both security selection and allocation effects led the strategy to outperform in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Aristotle Atlantic Core Equity Strategy featured stocks like Spirit AeroSystems Holdings, Inc. (NYSE:SPR) in the fourth quarter 2023 investor letter. Headquartered in Wichita, Kansas, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) designs and manufactures aerostructures for commercial and defense aircraft. On March 1, 2024, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) stock closed at $32.98 per share. One-month return of Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was 23.47%, and its shares lost 2.51% of their value over the last 52 weeks. Spirit AeroSystems Holdings, Inc. (NYSE:SPR) has a market capitalization of $3.827 billion.
Aristotle Atlantic Core Equity Strategy stated the following regarding Spirit AeroSystems Holdings, Inc. (NYSE:SPR) in its fourth quarter 2023 investor letter:
“Spirit AeroSystems Holdings, Inc. (NYSE:SPR) contributed to portfolio outperformance in the fourth quarter. The company replaced the CEO, following a series of manufacturing incidents which resulted in delays in deliveries of fuselages. Additionally, Spirit also came to an agreement with Boeing regarding pricing for the troubled 787 program, which previously was unprofitable. The company also issued equity, which we believe will improve the company’s balance sheet.”
A team of engineers analyzing a blueprint of a wing for a new aircraft design.
Spirit AeroSystems Holdings, Inc. (NYSE:SPR) is in fifth position on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was held by 38 hedge fund portfolios, up from 27 in the previous quarter, according to our database.
We discussed Spirit AeroSystems Holdings, Inc. (NYSE:SPR) in another article and shared the list of best American defense stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 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.
