12 Best Aggressive Growth Stocks To Buy According to Hedge Funds

2. Apollo Global Management, Inc. (NYSE:APO)

Revenue Growth: 285%

Number of Hedge Fund Investors In Q3 2024: 82

Apollo Global Management, Inc. (NYSE:APO) is one of the largest private equity firms in the world. The firm operates in its market through a variety of products such as buyouts, venture capital financing, and corporate restructuring. Apollo Global Management, Inc. (NYSE:APO)’s shares have been on a tear in 2024 as they are up by 94% year-to-date. Most of these gains have come after the November presidential election which has stoked investor hopes of fewer regulations for established financial sectors. Since the election, Apollo Global Management, Inc. (NYSE:APO)’s shares have gained 28%. As of H1 2024, 85% of the firm’s revenue came through its retirement services business. Out of this, 67% was through investment income. Within investment income, 60% of the revenue was through AFS securities which are a myriad of financial vehicles that Apollo Global Management, Inc. (NYSE:APO)  has accumulated under its belt. Therefore, sharper financial market activity and lower interest rates that drive up the value of fixed-rate securities can prove to be catalysts for the stock.

Baron Funds mentioned Apollo Global Management, Inc. (NYSE:APO) in its Q2 2024 investor letter. Here is what the fund said:

“Strength in Tech-Enabled Financials was broad based, led by gains from alternative asset manager Apollo Global Management, Inc. (NYSE:APO) and specialty insurer Arch Capital Group Ltd. Apollo continues to benefit from disruptive trends in financial services, most notably the shift of retirement assets into higher-yielding private credit given the company’s dual role as an asset manager and an annuity provider.”