Artisan Partners, an investment management company, released its “Artisan Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund outperformed the Russell 1000 Value Index. Its Investor Class fund ARTLX returned 14.04%, Advisor Class fund APDLX posted a return of 14.14%, and Institutional Class fund APHLX returned 14.10% in the quarter, compared to a 12.42% return for the benchmark index. Positive stock selection led to the outperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Value Fund 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 1, 2023, Arch Capital Group Ltd. (NASDAQ:ACGL) stock closed at $70.97 per share. One-month return of Arch Capital Group Ltd. (NASDAQ:ACGL) was 15.68%, and its shares gained 52.43% of their value over the last 52 weeks. Arch Capital Group Ltd. (NASDAQ:ACGL) has a market capitalization of $26.344 billion.
Artisan Value Fund made the following comment about Arch Capital Group Ltd. (NASDAQ:ACGL) in its Q4 2022 investor letter:
“Another top contributor was Arch Capital Group Ltd. (NASDAQ:ACGL), a global reinsurer. In October, shares shot higher on news the stock was being added to the S&P 500® Index; however, there are fundamental factors also at play. Though catastrophe losses have been larger than expected, due partly to Hurricane Ian, the reinsurance markets are in an upswing in terms of pricing and premium growth, while rising interest rates are boosting net interest income. As a long-time holding, Arch is a company we know well. It’s an industry leader capably managed by a long-tenured team that has achieved an enviable underwriting record while at the same time seeking opportunistic growth. It has shown discipline in pulling back from writing business when pricing is soft, patiently waiting for turns in the cycle to put its strong capital position to work.”
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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 Baron Asset 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.
