A method of preparing a feed composition includes (a) mixing one or more carotenoids and one or more phospholipids in an organic solvent to form a solution; and (b) thereafter combining the carotenoid(s) and phospholipid(s) with at least one other animal feed component. The organic solvent is a polar solvent selected from the group consisting of chlorocarbons and lower alcohols, and step (a) further includes removing the polar solvent from the solution.