Investment management company Vulcan Value Partners recently released its third-quarter 2022 investor letter. A copy of the same can be downloaded here. The firm has five strategies, trailing their benchmark indexes in the third quarter of 2022. The fund’s Large-Cap Composite returned -7.3% net of fees and expenses, the Small Cap Composite returned -14.4% net, Focus Composite returned -8.0% net, the Focus Plus composite returned -7.9%, and All Cap Composite returned -11.5% net during the quarter. You can check the top 5 holdings of the fund to know its best picks in 2022.
Vulcan Value Partners highlighted stocks like Ares Management Corporation (NYSE:ARES) in its Q3 2022 investor letter. Headquartered in Los Angeles, California, Ares Management Corporation (NYSE:ARES) is a US-based asset management company. On November 3, 2022, Ares Management Corporation (NYSE:ARES) stock closed at $77.00 per share. One-month return of Ares Management Corporation (NYSE:ARES) was 17.55% and its shares lost 10.79% of their value over the last 52 weeks. Ares Management Corporation (NYSE:ARES) has a market capitalization of $22.633 billion.
Vulcan Value Partners made the following comment about Ares Management Corporation (NYSE:ARES) in its Q3 2022 investor letter:
“Ares Management Corporation (NYSE:ARES), is a global, diversified alternative asset manager with a focus on credit and debt funds. Among alternative asset managers, Ares has a leading market share in credit products. These credit products generate fee-related revenue, which we believe translates to stable earnings power. Ares is benefiting from increasing investor demand for private credit assets. According to industry data, the gap between current and target allocations for institutions is wider for private credit than for private equity, implying that private credit has substantial opportunity for growth. Ares has generated strong historical returns in private credit and demand from private equity sponsors, who are Ares’s primary customers, for private credit funding has increased. This has resulted in market share gains for private credit against the banks and public markets, and we believe that trend will continue. We think that scale and relationships are Ares’ most important competitive advantages and, to the extent these advantages lead to strong returns, this should lead to continued growth in AUM. The alternative asset management space is very competitive, but we believe that Ares is well positioned.”
Ares Management Corporation (NYSE:ARES) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Ares Management Corporation (NYSE:ARES) at the end of the second quarter which was 22 in the previous quarter.
We discussed Ares Management Corporation (NYSE:ARES) in another article and shared the list of stocks to buy according to James Morrow’s Callodine Capital Management. In addition, please check out our hedge fund investor letters Q3 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.
