Artisan Partners, an investment management company, released its “Artisan Value Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. US Treasury yields saw a significant decline towards the end of 2023, which led to a massive surge in the last two months of the year for US stocks. The fund’s Investor Class ARTLX, Advisor Class APDLX, and Institutional Class APHLX returned 9.75%, 9.75%, and 9.79% respectively, in the quarter compared to a 9.50% return for the Russell 1000 Value Index. In addition, you can check the top 5 holdings of the strategy to know its best picks in 2023.
Artisan Value Fund featured stocks like Arch Capital Group Ltd. (NASDAQ:ACGL) in the Q4 2023 investor letter. Headquartered in Pembroke, Bermuda, Arch Capital Group Ltd. (NASDAQ:ACGL) is an insurance company. On March 13, 2024, Arch Capital Group Ltd. (NASDAQ:ACGL) stock closed at $91.00 per share. One-month return of Arch Capital Group Ltd. (NASDAQ:ACGL) was 4.12%, and its shares gained 37.73% of their value over the last 52 weeks. Arch Capital Group Ltd. (NASDAQ:ACGL) has a market capitalization of $34.048 billion.
Artisan Value Fund stated the following regarding Arch Capital Group Ltd. (NASDAQ:ACGL) in its fourth quarter 2023 investor letter:
“Other Q4 laggards were global reinsurer Arch Capital Group Ltd. (NASDAQ:ACGL) and shipping company FedEx—holdings that pulled back following large gains. Arch has experienced strong growth over the past year as reinsurance markets have been in an upswing in terms of pricing and premium growth, while rising interest rates boosted net interest income. Additionally, margins benefited from lower acquisition costs, better expense management and reduced catastrophe losses. In its mortgage insurance business, high interest rates are a headwind to top-line growth but a tailwind for margins. Arch is an industry leader capably managed by a long-tenured team that has achieved an enviable underwriting record while at the same time seeking opportunistic growth. It has shown discipline in pulling back from writing business when pricing is soft, patiently waiting for turns in the cycle to put its strong capital position to work.”
A close-up image of an insurance policy with hands standing firmly on top, conveying security.
Arch Capital Group Ltd. (NASDAQ:ACGL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Arch Capital Group Ltd. (NASDAQ:ACGL) was held by 40 hedge fund portfolios, compared to 25 in the previous quarter, according to our database.
We discussed Arch Capital Group Ltd. (NASDAQ:ACGL) in another article and shared Baron Asset Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
