Should You Hold DigitalBridge Group (DBRG) for the Long Term?

Investment management company Ave Maria recently released its “Ave Maria Focused Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned 9.86% compared to the S&P MidCap 400 Growth Index’s 8.74% return. Year-to-date the fund returned 23.96% compared to the 10.46% return for the index. You can check the top 5 holdings of the fund to know its best picks in 2023.

Ave Maria Focused Fund highlighted stocks like DigitalBridge Group, Inc. (NYSE:DBRG) in the second quarter 2023 investor letter. Headquartered in Boca Raton, DigitalBridge Group, Inc. (NYSE:DBRG) is a digital infrastructure firm. On September 19, 2023, DigitalBridge Group, Inc. (NYSE:DBRG) stock closed at $17.82 per share. One-month return of DigitalBridge Group, Inc. (NYSE:DBRG) was 10.89%, and its shares gained 20.65% of their value over the last 52 weeks. DigitalBridge Group, Inc. (NYSE:DBRG) has a market capitalization of $2.898 billion.

Ave Maria Focused Fund made the following comment about DigitalBridge Group, Inc. (NYSE:DBRG) in its Q2 2023 investor letter:

“DigitalBridge Group, Inc. (NYSE:DBRG), the third largest position, was up 34.7% YTD. DigitalBridge’s most important activity in the next 12 months will be to raise their third flagship investment fund. While higher interest rates created a tougher fundraising environment, DigitalBridge is the largest operator within one of the most desirable sectors – digital infrastructure.”

DigitalBridge Group, Inc. (NYSE:DBRG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 25 hedge fund portfolios held DigitalBridge Group, Inc. (NYSE:DBRG) at the end of second quarter which was 16 in the previous quarter.

We discussed DigitalBridge Group, Inc. (NYSE:DBRG) in another article and shared the list of stocks that legendary value investor Seth Klarman is selling in 2023. 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.