Should You Hold Arch Capital Group Ltd. (ACGL)?

Madison Investments, an investment advisor, released its “Madison Investors Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund advanced 8.5% compared to an 8.7% return for S&P 500 Index benchmark.  In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Madison Investors Fund highlighted stocks like Arch Capital Group Ltd. (NASDAQ:ACGL) in the second quarter 2023 investor letter. Headquartered in Pembroke, Bermuda, Arch Capital Group Ltd. (NASDAQ:ACGL) is an insurance company. On July 13, 2023, Arch Capital Group Ltd. (NASDAQ:ACGL) stock closed at $76.88 per share. One-month return of Arch Capital Group Ltd. (NASDAQ:ACGL) was 8.04%, and its shares gained 78.25% of their value over the last 52 weeks. Arch Capital Group Ltd. (NASDAQ:ACGL) has a market capitalization of $28.632 billion.

Madison Investors Fund made the following comment about Arch Capital Group Ltd. (NASDAQ:ACGL) in its second quarter 2023 investor letter:

“Overall portfolio activity remained low in the quarter. We purchased Elevance Health and trimmed Marsh & McLennan and Arch Capital Group Ltd. (NASDAQ:ACGL). The two trims were for portfolio risk management reasons; we remain delighted with corporate performance at both companies and maintain sizeable investments in each. There were no portfolio eliminations.”

insurance, work, client

Iakov Filimonov/Shutterstock.com

Arch Capital Group Ltd. (NASDAQ:ACGL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 28 hedge fund portfolios held Arch Capital Group Ltd. (NASDAQ:ACGL) at the end of first quarter which was 25 in the previous quarter.

We discussed Arch Capital Group Ltd. (NASDAQ:ACGL) in another article and shared the list of biggest health insurance companies in the US. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

Disclosure: None. This article is originally published at Insider Monkey.