Aristotle Capital Management, LLC, an investment management company, released its “Global Equity Strategy” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. Global equity markets had a modest decline at the end of the year, with the MSCI ACWI Index returning -0.99% in the fourth quarter, while the Bloomberg Global Aggregate Bond Index fell by 5.10%. Aristotle Capital Global Equity Strategy returned -7.72% gross of fees (-7.80% net of fees) in the fourth quarter underperforming the MSCI ACWI Index’s -0.99% return. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.
Aristotle Capital Global Equity Strategy highlighted stocks like Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in its Q4 2024 investor letter. Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is a cruise company that operates through Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. The one-month return of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) was 8.43%, and its shares gained 58.60% of their value over the last 52 weeks. On February 3, 2024, Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) stock closed at $27.66 per share with a market capitalization of $12.16 billion.
Aristotle Capital Global Equity Strategy stated the following regarding Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) in its Q4 2024 investor letter:
“Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH), one of the world’s largest cruise ship operators, was a major contributor during the quarter. With post pandemic consumer sentiment regarding the cruise industry continuing to improve, the company has seen strong advanced booking trends, improving occupancy levels and an upward momentum in pricing. Norwegian Cruise Line has also simultaneously executed on optimizing ship operating costs and instituting a new fuel purchasing program, which has allowed the company to offset inflation. Furthermore, the company continues to make progress on its multibillion-dollar efforts to upgrade and expand its fleet, with one of the company’s newest ships, Allura, ready to set sail in 2025. We believe the company’s cost-saving initiatives and fleet improvements will lead to higher levels of profitability and FREE cash flow, allowing the company to continue to reduce debt and increase its intrinsic value.”
A luxurious cruise ship overlooking a stunning horizon, highlighting the variety of its itineraries.
Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) at the end of the third quarter which was 31 in the previous quarter. While we acknowledge the potential of Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Norwegian Cruise Line Holdings Ltd. (NYSE:NCLH) and shared long-term stock picks of billionaire George Soros. In addition, please check out our hedge fund investor letters Q3 2024 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.