Baron Funds, an investment management company, released the “Baron Partners Fund” in the third quarter of 2022 investor letter. A copy of it can be downloaded here. The third quarter witnessed extreme volatility in the financial market. However, the fund outperformed the benchmark indices and rose 10.00% (Institutional Shares) during the quarter. In addition, please review the fund’s top five holdings to find out its best picks in 2022.
Baron Funds discussed stocks such as Arch Capital Group Ltd. (NASDAQ:ACGL) in its Q3 2022 investor letter. Based in Pembroke, Bermuda, Arch Capital Group Ltd. (NASDAQ:ACGL) is a global insurance company. On November 1, 2022, the stock of Arch Capital Group Ltd. closed. (NASDAQ:ACGL) at $55.44 per share. The one month return of Arch Capital Group Ltd. (NASDAQ:ACGL) is 15.60% and its shares have gained 28.18% of their value over the past 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 above-consensus earnings 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 significantly since the start of the pandemic. We remain shareholders because of Arch’s strong management team and our expectation of solid growth in revenues and book value.”
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Arch Capital Group Ltd. (NASDAQ:ACGL) was not on our list of the 30 Most Popular Stocks in Hedge Funds. According to our database, 23 hedge fund portfolios hold 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 see 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 was originally published on Insider Monkey.