Baron Funds, an investment management company, released its “Baron Partners Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. The third quarter witnessed extreme volatility in the financial market. However, the fund outperformed the benchmark indexes and rose 10.00% (Institutional Shares) in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds discussed stocks like Arch Capital Group Ltd. (NASDAQ:ACGL) in the Q3 2022 investor letter. Based in Pembroke, Bermuda, Arch Capital Group Ltd. (NASDAQ:ACGL) is a global insurance company. On November 1, 2022, Arch Capital Group Ltd. (NASDAQ:ACGL) stock closed at $55.44 per share. One-month return of Arch Capital Group Ltd. (NASDAQ:ACGL) was 15.60% and its shares gained 28.18% of their value over the last 52 weeks. Arch Capital Group Ltd. (NASDAQ:ACGL) has a market capitalization of $20.475 billion.
Baron Funds made the following comment about Arch Capital Group Ltd. (NASDAQ:ACGL) in its Q3 2022 investor letter:
“Arch Capital Group Ltd. (NASDAQ:ACGL) is a specialty insurance company based in Bermuda. The share price was flat during the quarter as earnings that beat consensus were offset by a small decline in book value as higher interest rates weighed on the market value of the fixed income portfolio. Pricing trends remain favorable in the P&C insurance market, and margins for the mortgage insurance business have improved substantially since the onset of the pandemic. We remain shareholders due to Arch’s strong management team and our expectation of robust growth in earnings and book value.”
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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, 23 hedge fund portfolios held Arch Capital Group Ltd. (NASDAQ:ACGL) at the end of the second quarter which was 38 in the previous quarter.
We discussed Arch Capital Group Ltd. (NASDAQ:ACGL) in another article and shared Madison Funds’ views on the company. 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.