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 Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the fourth quarter 2023 investor letter. Headquartered in Boston, Massachusetts, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a biotechnology company. On March 1, 2024, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) stock closed at $432.76 per share. One-month return of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was 0.90%, and its shares gained 48.40% of their value over the last 52 weeks. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has a market capitalization of $111.785 billion.
Aristotle Atlantic Core Equity Strategy stated the following regarding Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in its fourth quarter 2023 investor letter:
“Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) develops drugs for treating cystic fibrosis, cancer, inflammatory bowel, autoimmune disease and neurological disorders. The biotechnology company has four commercial drugs used to treat cystic fibrosis. Vertex has other drugs in development, including additional cystic fibrosis treatments and medications addressing sickle cell disease, beta thalassemia, alpha-1 antitrypsin deficiency and pain.
Vertex is the global leader in treating cystic fibrosis and has additionally built a robust pipeline in several therapeutic areas. Late-stage studies in acute and neuropathic pain are expected to be another catalyst for the company. We believe Vertex’s valuation is attractive and at a discount relative to their 5-year historical average. Additionally, the company is well capitalized, with roughly $12.5 billion in net cash on its balance sheet.”
A scientist in a lab conducting research on cell-based therapeutics and biotechnology.
Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was held by 62 hedge fund portfolios, up from 57 in the previous quarter, according to our database.
We discussed Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in another article and shared the list of fastest growing biotech companies in the US. 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.
