This Fund Dumped a $6 Million Position in Darling Ingredients. The Stock Has Surged 92% This Past Year

On February 17, 2026, Hartree Partners disclosed it had fully exited its position in Darling Ingredients (DAR 2.84%), selling 199,448 shares in an estimated $6.16 million transaction.

What happened

According to a Securities and Exchange Commission (SEC) filing dated February 17, 2026, Hartree Partners sold all of its 199,448 shares of Darling Ingredients during the fourth quarter. The quarter-end value of the position decreased by $6.16 million as a result of the transaction.

What else to know

• Top holdings after the filing:
  • NYSE: SGU: $40.27 million (14.7% of AUM)
  • NASDAQ: HDSN: $26.03 million (9.5% of AUM)
  • NYSE: OVV: $24.25 million (8.9% of AUM)
  • NYSE: GLP: $21.26 million (7.8% of AUM)
  • NYSE: B: $13.06 million (4.8% of AUM)
• As of Friday, shares of Darling Ingredients were priced at $54.80, up about 92% over the past year and well outperforming the S&P 500’s roughly 20% gain in the same period.

Company overview

Company snapshot

• Darling Ingredients produces and sells natural ingredients, including collagen, edible fats, animal proteins, meals, plasma, pet food ingredients, organic fertilizers, yellow grease, and green energy products.
• The company operates a vertically integrated model that collects and transforms animal by-products and residuals into specialty ingredients for food, feed, fuel, and industrial markets.
• It serves customers in the pharmaceutical, food, pet food, feed, fuel, bioenergy, fertilizer, and environmental services sectors globally.

Darling Ingredients transforms animal by-products into specialty ingredients for food, fuel, and industrial markets worldwide. It is a global leader in converting edible and inedible bio-nutrients into value-added specialty ingredients. With a diverse international footprint and a focus on sustainable solutions, the company leverages its integrated operations to serve a wide range of end markets.

What this transaction means for investors

Shares of Darling Ingredients have had a staggering run; however, it’s important to note that a large part of the past year’s over 90% gain has come since the end of last quarter. That timing matters because it means Hartree Partners exited the position before much of this recent rally materialized.

Helping to ignite the recent surge, Darling reported stronger-than-expected fourth-quarter revenue of $1.7 billion, up from $1.4 billion one year earlier, and pointed to improving trends across its ingredients and renewable fuels businesses, giving investors fresh confidence after a choppy stretch for biofuel names.

Yet profitability has been volatile. Net income dropped sharply to $62.8 million for the year from $278.9 million in 2024. In a statement, CEO Randall C. Stuewe, in part, blamed lower fat prices, but he pointed to solid EBITDA growth and a sequential gross margin improvement as reasons for bullishness. Absent this latest earnings report, however, it seems Hartree may have just found a better place to park its capital.