Ariel Investments Appreciation Fund’s Q2 2023 Investor Letter

Ariel Investments, an investment management company, released its “Ariel Appreciation Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the Ariel Appreciation fund gained +5.04% ahead of the Russell Midcap Value Index’s +3.86% return while trailing the Russell Midcap Index’s +4.76% return. The average annual returns of Ariel Appreciation Fund (investor class) for the 1-, 5-, and 10-year periods ended June 30, 2023, were +15.95%, +6.14%, and +8.01%, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.