Ariel Investments, an investment management company, released its “Ariel Appreciation Fund” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. Towards the end of 2023, Investor sentiment shifted from fears of a recession towards optimism for a soft landing. Against this backdrop, the Ariel Appreciation fund increased +10.70% in the quarter, trailing the +12.11% and +12.82% returns of both the Russell Midcap Value and Russell Midcap indices. Over the trailing one-year period, the fund traded +10.62% higher, lagging the Russell Midcap Value Index’s +12.71% gain and the +17.23% return of the Russell Midcap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Appreciation Fund featured stocks like The Carlyle Group Inc. (NASDAQ:CG) in the fourth quarter 2023 investor letter. Headquartered in Washington, District of Columbia, The Carlyle Group Inc. (NASDAQ:CG) is an investment firm. On March 11, 2024, The Carlyle Group Inc. (NASDAQ:CG) stock closed at $46.83 per share. One-month return of The Carlyle Group Inc. (NASDAQ:CG) was 7.93%, and its shares gained 54.66% of their value over the last 52 weeks. The Carlyle Group Inc. (NASDAQ:CG) has a market capitalization of $16.903 billion.
Ariel Appreciation Fund stated the following regarding The Carlyle Group Inc. (NASDAQ:CG) in its fourth quarter 2023 investor letter:
“Alternative asset manager, The Carlyle Group Inc. (NASDAQ:CG), advanced over the quarter following a solid earnings beat, highlighted by positive investment performance across all its major product lines and continued progress on previously articulated cost savings initiatives. Management also guided to higher transaction and advisory revenues to close out 2023. We believe these results reflect early signs of execution across a number of the strategic initiatives and expect CG will deliver continued growth and margin expansion over time.”
A business executive discussing investment opportunities in a stock exchange office.
The Carlyle Group Inc. (NASDAQ:CG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, The Carlyle Group Inc. (NASDAQ:CG) was held by 23 hedge fund portfolios, compared to 22 in the previous quarter, according to our database.
We discussed The Carlyle Group Inc. (NASDAQ:CG) in another article and shared Vulcan Value Partners’ views on the company. 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:
- 15 Best Places To Retire In Hawaii
- 15 Countries With the Most Beautiful Nature in Europe
- 20 Most Refugee-Hosting Countries in the World
Disclosure: None. This article is originally published at Insider Monkey.
