Ariel Investments, an investment management company, released its “Ariel Small Cap Value Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. Global markets continued their upward trend in the second quarter, exceeding expectations. Meanwhile US economy continues to show signs of economic slowdown as tighter credit conditions weigh on consumers and business confidence. Against this backdrop, the fund advanced +5.19% gross of fees (+4.93% net of fees) in the second quarter, ahead of the Russell 2000 Value Index’s +3.18% gain and relatively in line with the Russell 2000 Index’s +5.21% return. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Ariel Small Cap Value Strategy highlighted stocks like The Carlyle Group Inc. (NASDAQ:CG) in the Q2 2023 investor letter. Based in Washington, District of Columbia, The Carlyle Group Inc. (NASDAQ:CG) is an investment firm. On September 6, 2023, The Carlyle Group Inc. (NASDAQ:CG) stock closed at $32.32 per share. One-month return of The Carlyle Group Inc. (NASDAQ:CG) was 0.75%, and its shares lost 0.71% of their value over the last 52 weeks. The Carlyle Group Inc. (NASDAQ:CG) has a market capitalization of $11.634 billion.
Ariel Small Cap Value Strategy made the following comment about The Carlyle Group Inc. (NASDAQ:CG) in its Q2 2023 investor letter:
“Also in the quarter, we initiated a new position in alternative asset manager, The Carlyle Group Inc. (NASDAQ:CG). CG’s competitive advantages include a notable 35-year track record of investment performance across various economic and financial market conditions, diversified product offerings and long-tenured client relationships across five continents. CG’s underperformance versus peers and the S&P 500, presents us with a unique opportunity to acquire shares of what we believe to be a highly scalable business with attractive fundamentals and healthy fundraising momentum.”
Investments, Finance
The Carlyle Group Inc. (NASDAQ:CG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 17 hedge fund portfolios held The Carlyle Group Inc. (NASDAQ:CG) at the end of second quarter which was 20 in the previous quarter.
We discussed The Carlyle Group Inc. (NASDAQ:CG) in another article and shared the list of overlooked large-cap stocks with cheap multiples. In addition, please check out our hedge fund investor letters Q2 2023 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.
