Ariel Investments, an investment management company, released its “Ariel Appreciation Fund” second-quarter 2024 investor letter. The bull market surged in the second quarter, driven by investor enthusiasm for artificial intelligence (AI)-themed stocks. This narrow, momentum-driven rally helped the S&P 500 achieve a modest gain, despite declines in Mid- and Small-Cap companies. The Ariel Appreciation fund fell -6.56% in the quarter, trailing the -3.40% and -3.35% returns of the Russell Midcap Value and Russell Midcap indices. In addition, please check the fund’s top five holdings to...
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