Arch Capital Group Ltd. (ACGL) Returned 38% in Q4

Renaissance Investment Management, an investment management company, released its “Midcap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 11.23% (net) compared to a 6.90% return for the Russell Midcap Growth Index. The strategy declined -13.42% (net) in 2022 compared to a -26.72% decline for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Renaissance Midcap Growth Strategy highlighted stocks like Arch Capital Group Ltd. (NASDAQ:ACGL) in the Q4 2022 investor letter. Headquartered in Pembroke, Bermuda, Arch Capital Group Ltd. (NASDAQ:ACGL) is an insurance company. On March 22, 2023, Arch Capital Group Ltd. (NASDAQ:ACGL) stock closed at $65.87 per share. One-month return of Arch Capital Group Ltd. (NASDAQ:ACGL) was -3.05%, and its shares gained 41.35% of their value over the last 52 weeks. Arch Capital Group Ltd. (NASDAQ:ACGL) has a market capitalization of $24.451 billion.

Renaissance Midcap Growth Strategy made the following comment about Arch Capital Group Ltd. (NASDAQ:ACGL) in its Q4 2022 investor letter:

Arch Capital Group Ltd. (NASDAQ:ACGL) was another top contributor, with a 37.9% return in the quarter. Despite heightened catastrophic losses stemming from Hurricane Ian, the company reported good underlying performance in its property casualty insurance and mortgage segments. Importantly, significant weather events have historically helped to support future pricing for both new policies and policy renewals. In addition, Arch Capital was added to the S&P 500 index in November.”

Arch Capital Group Ltd. (NASDAQ:ACGL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held Arch Capital Group Ltd. (NASDAQ:ACGL) at the end of the fourth quarter which was 26 in the previous quarter.

We discussed Arch Capital Group Ltd. (NASDAQ:ACGL) in another article and shared Artisan Value Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.