Do You Think CME Group (CME) is Well-Positioned to Benefit from Favorable Macroeconomic Tailwinds?

Ariel Investments, an investment management company, released its “Ariel Global Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the Ariel Global fund traded +3.32% higher, trailing the +6.18% return of the MSCI ACWI Index and outperforming the MSCI ACWI Value Index’s +2.98% gain. The fund’s lack of exposure to Materials and Energy was the greatest source of positive attribution in the quarter, while Communication Services holdings and choices within Information Technology detracted. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Ariel Global Fund highlighted stocks like CME Group Inc. (NASDAQ:CME) in the second quarter 2023 investor letter. Headquartered in Chicago, Illinois, CME Group Inc. (NASDAQ:CME) operates contract markets for the trading of futures and options on futures contracts. On September 13, 2023, CME Group Inc. (NASDAQ:CME) stock closed at $207.42 per share. One-month return of CME Group Inc. (NASDAQ:CME) was 0.69%, and its shares gained 8.43% of their value over the last 52 weeks. CME Group Inc. (NASDAQ:CME) has a market capitalization of $74.619 billion.

Ariel Global Fund made the following comment about CME Group Inc. (NASDAQ:CME) in its Q2 2023 investor letter:

“We purchased shares of leading derivatives exchange, CME Group Inc. (NASDAQ:CME). The company has various competitive advantages, including its breadth of products across all asset classes, extensive client networks, and centralized clearing services. In our view, CME Group is well-positioned to benefit from favorable macroeconomics tailwinds including tapering, rate hikes, and inflation, which we believe will fuel volume expansion and generate value for shareholders.”

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CME Group Inc. (NASDAQ:CME) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held CME Group Inc. (NASDAQ:CME) at the end of second quarter which was 55 in the previous quarter.

We discussed CME Group Inc. (NASDAQ:CME) in another article and shared the list of best stocks to invest in, according to AI. In addition, please check out our hedge fund investor letters Q2 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.