Ariel Investments, an investment management company, released its “Ariel Focus Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased +11.05% compared to +9.50% and +11.69% returns for the Russell 1000 Value Index and the S&P 500 Index, respectively. The fund increased by +6.97 over the trailing one-year underperforming both indexes’ +11.46% and +26.29% returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Focus Fund featured stocks like The Goldman Sachs Group, Inc. (NYSE:GS) in the fourth 2023 investor letter. Headquartered in New York, New York, The Goldman Sachs Group, Inc. (NYSE:GS) is a financial institution. On March 14, 2024, The Goldman Sachs Group, Inc. (NYSE:GS) stock closed at $388.61 per share. One-month return of The Goldman Sachs Group, Inc. (NYSE:GS) was 1.08%, and its shares gained 28.03% of their value over the last 52 weeks. The Goldman Sachs Group, Inc. (NYSE:GS) has a market capitalization of $126.517 billion.
Ariel Focus Fund stated the following regarding The Goldman Sachs Group, Inc. (NYSE:GS) in its fourth quarter 2023 investor letter:
“Global investment bank, The Goldman Sachs Group, Inc. (NYSE:GS), also increased in the period on solid earnings results. The top-line came in strong led by elevated financing activity and an improvement in advisory revenues, despite weak transaction volumes within the investment banking segment. Should conditions remain conducive, management remains cautiously optimistic the business will experience continued recovery in both capital markets and strategy activity. Meanwhile, GS continues to successfully execute on its strategic initiatives to improve the overall return of the company. It is right sizing headcount and narrowing its ambitions in consumer strategy through divestitures and an enhanced focus on driving profitability in Platform Solutions by 2025. With potential regulatory capital constraints from B3E, GS noted it will reign in buybacks over the short-term but maintain its dividend. Looking ahead, we continue to view the near and long-term outlook for Goldman as attractive at current levels, given favorable business trends, continued positive momentum on strategic initiatives and active expense/capital management programs.”
A senior investment banker in a tailored suit with a financial market graph chart in the background.
The Goldman Sachs Group, Inc. (NYSE:GS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, The Goldman Sachs Group, Inc. (NYSE:GS) was held by 69 hedge fund portfolios, compared to 68 in the previous quarter, according to our database.
We discussed The Goldman Sachs Group, Inc. (NYSE:GS) in another article and shared the list of best spring stocks to buy. 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.
