Aristotle Capital Management, LLC, an investment management company, released its “Global Equity Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 12.67% net of fees, compared to a 9.77% return for the MSCI World Index (net) and a 9.76% return for the MSCI ACWI Index (net). In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Global Equity Strategy highlighted stocks like Carnival Corporation & plc (NYSE:CCL) in the Q4 2022 investor letter. Headquartered in Miami, Florida, Carnival Corporation & plc (NYSE:CCL) provides leisure travel services. On March 28, 2023, Carnival Corporation & plc (NYSE:CCL) stock closed at $9.33 per share. One-month return of Carnival Corporation & plc (NYSE:CCL) was -11.90%, and its shares lost 52.40% of their value over the last 52 weeks. Carnival Corporation & plc (NYSE:CCL) has a market capitalization of $12.125 billion.
Aristotle Global Equity Strategy made the following comment about Carnival Corporation & plc (NYSE:CCL) in its Q4 2022 investor letter:
“We first purchased shares of Carnival Corporation & plc (NYSE:CCL), the world’s largest cruise line, during the second quarter of 2019. At the time, we believed the company was improving in quality, as the industry (and shipyards) had consolidated to a point where returns on capital could increase systematically over time. In addition, cruising is underpenetrated when compared to land-based alternatives. Despite the difficulties faced by the cruise industry during the pandemic, in our opinion, consumer appetite for cruising remains high, with cumulative advanced bookings at the upper end of historical ranges. As discussed below, we believe Carnival’s peer Norwegian Cruise Line is more optimally positioned for the coming years.”
Carnival Corporation & plc (NYSE:CCL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Carnival Corporation & plc (NYSE:CCL) at the end of the fourth quarter which was 30 in the previous quarter.
We discussed Carnival Corporation & plc (NYSE:CCL) in another article and shared the list of best cruise stocks to buy. 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.
