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Artisan Partners, an investment management company, has announced the fourth quarter 2023 investor letter for its Artisan Mid Cap Fund. You can download a copy of the same here. The final quarter of 2023 saw constant fluctuations between recession fears and soft-landing optimism. The fund’s investor class fund ARTMX returned 8.86% in the fourth quarter, its advisor class fund APDMX returned 8.93%, and its institutional investor class fund APHMX returned 8.96%, compared to Russell Midcap Growth. The index return was 14.55%. Although the portfolio generated positive absolute returns in the fourth quarter, it underperformed the Russell Mid-Cap Growth Index due to poor security selection, particularly in healthcare and information technology. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2023.
Artisan Mid Cap Fund featured stocks like Lululemon Athletica (NASDAQ:LULU) in its Q4 2023 Investor Letter. Lululemon Athletica Inc. (NASDAQ:LULU), headquartered in Vancouver, Canada, designs and markets sports apparel, footwear, and accessories. On March 7, 2024, Lululemon Athletica Inc. (NASDAQ: LULU) stock closed at $457.28 per share. His 1-month return for Lululemon Athletica (NASDAQ: LULU) is -3.32%, and the company’s stock has increased his 51.52% in value over the past 52 weeks. Lululemon Athletica, Inc. (NASDAQ:LULU) has a market capitalization of $57.75 billion.
Artisan Mid Cap Fund said the following about Lululemon Athletica Inc. (NASDAQ:LULU) in its Q4 2023 Investor Letter:
“Notable trims for the quarter included Veeva; Lululemon Athletica Co., Ltd. (NASDAQ:LULU) and Ryan Specialty Holdings. Lululemon is a designer and retailer of yoga-inspired apparel. The upgraded management team has achieved remarkable results in recent years, strengthening all operational functions such as supply chain, product design, e-commerce, and digital marketing, and driving traffic growth for both physical and online stores. Recent financial results suggest that the company is on track for its profit cycle, with both physical and digital sales exceeding expectations, along with margins. After a strong rise in the fourth quarter, valuation discipline led to a drop in the rankings. ”
Group of people doing yoga or pilates class in fitness studio.
Lululemon Athletica, Inc. (NASDAQ:LULU) isn’t included in this list of 30 most popular stocks among hedge funds. According to our database, at the end of the fourth quarter, Lululemon Athletica, Inc. (NASDAQ: LULU)’s hedge fund portfolio was held in 52 companies, down from his 61 companies last quarter.
We talked about Lululemon Athletica Inc. (NASDAQ:LULU) in a separate article and shared a list of the best Canadian stocks to buy in 2024. Additionally, for additional investor letters from hedge funds and other investors, please visit our Hedge Fund Investor Letters Q4 2023 page. powerful investors.
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Disclosure: None. This article was originally published on Insider Monkey.
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