Here’s Why Ariel Focus Fund Added Chevron Corporation (CVX)

Ariel Investments, an investment management company, released its “Ariel Focus Fund” third-quarter 2023 investor letter. A copy of the same can be downloaded here.  In the third quarter, the fund fell -5.87 % compared to a -3.16% and -3.27% decline for the Russell 1000 Value Index and the S&P 500 Index, respectively. Global markets fell in the third quarter. In this context, the government bond yield spiked, which put pressure on the equities and led the high values “magnificent...