Ariel Investments, an investment management company, released its “Ariel Global Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the Ariel Global fund returned +8.40% gross of fees (+8.18% net of fees), compared to the MSCI ACWI Index’s +11.03%, and the MSCI ACWI Value Index’s +9.17% gains. The fund appreciated +13.96% gross of fees (+13.06% net of fees) over the trailing year, underperforming the MSCI ACWI Index’s +22.20% return and ahead of the MSCI ACWI Value Index’s +11.81% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Global Fund featured stocks like Intel Corporation (NASDAQ:INTC) in the fourth quarter 2023 investor letter. Headquartered in Santa Clara, California, Intel Corporation (NASDAQ:INTC) designs, develops, and manufactures computer products and technologies. On March 22, 2024, Intel Corporation (NASDAQ:INTC) stock closed at $42.57 per share. One-month return of Intel Corporation (NASDAQ:INTC) was -0.98%, and its shares gained 45.89% of their value over the last 52 weeks. Intel Corporation (NASDAQ:INTC) has a market capitalization of $179.986 billion.
Ariel Global Fund stated the following regarding Intel Corporation (NASDAQ:INTC) in its fourth quarter 2023 investor letter:
“New holding, Intel Corporation (NASDAQ:INTC), one of the world’s largest semiconductor chip manufacturers by revenue, outperformed in the quarter. Intel is benefitting from the near-term rebound in semiconductor demand driven by the cyclical recovery of personal computers (PCs) and central processing units (CPUs). Shares also traded higher following the company’s Artificial Intelligence (AI) Everywhere launch event. Intel introduced its capabilities across cloud, edge and client hardware and showcased it can benefit from an enterprise upgrade cycle as both cloud-based and traditional enterprises look to incorporate AI features into core technology platforms. In our view, the market is also overlooking the progress Intel has made towards regaining its manufacturing technology advantage and believe the foundry business will continue to experience strong momentum as it grows its customer base and revenue.”
A technician soldering components for a semiconductor board.
Intel Corporation (NASDAQ:INTC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Intel Corporation (NASDAQ:INTC) was held by 86 hedge fund portfolios, compared to 70 in the previous quarter, according to our database.
We discussed Intel Corporation (NASDAQ:INTC) in another article and shared the list of most undervalued large-cap stocks to buy according to analysts. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 11 Best Small Cap AI Stocks To Buy Now
- 11 Best Small-Cap Defense Stocks to Invest in
- Top 12 Stocks in George Soros’ Stock Portfolio
Disclosure: None. This article is originally published at Insider Monkey.
