Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The market rebounded in the fourth quarter as the S&P 500 Index rose 11.69%. Aristotle Atlantic’s Focus Growth strategy returned 15.02% gross of fees (14.99% net of fees), in the quarter outperforming the Russell 1000 Growth Index’s 14.16% total return. The relative outperformance was due to both allocation effects and security selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Atlantic Focus Growth Strategy featured stocks such as Darling Ingredients Inc. (NYSE:DAR) in the fourth quarter 2023 investor letter. Headquartered in Irving, Texas, Darling Ingredients Inc. (NYSE:DAR) produces natural ingredients from edible and inedible bio-nutrients. On February 9, 2024, Darling Ingredients Inc. (NYSE:DAR) stock closed at $41.58 per share. One-month return of Darling Ingredients Inc. (NYSE:DAR) was -8.15%, and its shares lost 38.24% of their value over the last 52 weeks. Darling Ingredients Inc. (NYSE:DAR) has a market capitalization of $6.633 billion.
Aristotle Atlantic Focus Growth Strategy stated the following regarding Darling Ingredients Inc. (NYSE:DAR) in its fourth quarter 2023 investor letter:
“Darling Ingredients Inc. (NYSE:DAR) detracted from portfolio performance in the quarter, as shares were weak following a lower-than-expected earnings report and a reduction in annual guidance. The reduction was largely driven by lower margins in their Diamond Green Diesel renewable diesel joint venture due to lower renewable identification numbers (RINs) and lower soybean oil prices. We believe these issues should prove to be short-term headwinds, as margins normalize in the coming quarters.”
A selection of pet food ingredients being prepared in a kitchen for quality and safety testing.
Darling Ingredients Inc. (NYSE:DAR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Darling Ingredients Inc. (NYSE:DAR) at the end of third quarter which was 34 in the previous quarter.
We discussed Darling Ingredients Inc. (NYSE:DAR) in another article and shared the list of biggest agriculture stocks in 2024. 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.
