Aristotle Atlantic Partners, LLC, an investment advisor, released its “Large Cap Growth Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, Aristotle Atlantic’s Large Cap Growth Strategy delivered -5.34% gross of fees (-5.51% net of fees) underperforming the Russell 1000 Growth Index’s return of -3.13%. Security selection and allocation effects led the portfolio to underperform in the quarter. Holdings in Health Care, Industrials, and Financials detracted from the relative performance of the quarter. Information Technology and Real Estate, as well as overweight exposure to healthcare, contributed to relative returns in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Large Cap Growth Strategy highlighted stocks like Darling Ingredients Inc. (NYSE:DAR) in the third quarter 2023 investor letter. Headquartered in Irving, Texas, Darling Ingredients Inc. (NYSE:DAR) produces natural ingredients from edible and inedible bio-nutrients. On October 23, 2023, Darling Ingredients Inc. (NYSE:DAR) stock closed at $40.92 per share. One-month return of Darling Ingredients Inc. (NYSE:DAR) was -21.74%, and its shares lost 46.06% of their value over the last 52 weeks. Darling Ingredients Inc. (NYSE:DAR) has a market capitalization of $6.651 billion.
Aristotle Large Cap Growth Strategy made the following comment about Darling Ingredients Inc. (NYSE:DAR) in its Q3 2023 investor letter:
“Darling Ingredients Inc. (NYSE:DAR) shares were weak in the third quarter after the company reported an inline quarter and reaffirmed guidance for the fourth quarter. Diamond Green Diesel had a planned downtime in July when an unexpected fire resulted in 10 days of no production in Norco Los Angeles later in the quarter. Higher interest rates this month pressured companies with outsized leverage, such as Darling Ingredients, and they are working on deleveraging following several acquisitions last year.”
Aerial view of a vibrant wheat field, a representation of the fertilizers and crop nutrients this company provides. Editorial photo for a financial news article. 8k. –ar 16:9
Darling Ingredients Inc. (NYSE:DAR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Darling Ingredients Inc. (NYSE:DAR) at the end of second quarter which was 29 in the previous quarter.
We discussed Darling Ingredients Inc. (NYSE:DAR) in another article and shared the list of sustainable investing stocks billionaires are loading up on. In addition, please check out our hedge fund investor letters Q3 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.
