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Artisan Partners, an investment management company, has announced the fourth quarter 2023 investor letter for its Artisan Small Cap Fund. You can download a copy of the same here. While the portfolio achieved positive absolute returns in the fourth quarter, it underperformed the Russell 2000 Growth Index due to its stock selection, particularly in the healthcare and information technology sectors. In the fourth quarter, Investor Class Fund ARTSX returned 9.18%, Advisor Class Fund APDSX returned 9.26%, and Institutional Investor Class Fund APHSX returned 9.28%. In comparison, the Russell 2000 Growth Index returned 12.75%. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2023.
Artisan Small Cap Fund featured stocks like Freshpet Inc. (NASDAQ:FRPT) in its Q4 2023 investor letter. FreshPet, Inc. (NASDAQ:FRPT), headquartered in Secaucus, New Jersey, manufactures, sells and distributes pet food and pet treats. On March 11, 2024, Freshpet, Inc. (NASDAQ: FRPT) stock closed at $107.89 per share. His 1-month return for Freshpet, Inc. (NASDAQ: FRPT) is 23.26%, and the company’s stock has increased his 93.80% in value over the past 52 weeks. Freshpet, Inc. (NASDAQ:FRPT) has a market capitalization of $5.21 billion.
Artisan Small Cap Fund said the following about Freshpet, Inc. (NASDAQ:FRPT) in its Q4 2023 Investor Letter:
“We work with BlackLine, Shoals Technologies, and Fresh Pet Co., Ltd. (NASDAQ:FRPT) during the quarter. Fresh Pet sells refrigerated and fresh pet food. Our paper posits that the company is positioned at the intersection of two important long-term trends: health and wellness, and the humanization of pets. It also has a fixed customer base, high barriers to entry, and a unique distribution model. However, given the challenging backdrop of consumer price declines and increased promotional activity, and as the stock price approaches our estimated private market value, we have decided to take the next step. ”
Close-up of a grocery store shelf with packaging for the company’s pet food products.
Freshpet, Inc. (NASDAQ:FRPT) isn’t on the list of 30 most popular stocks among hedge funds. Our database shows that Freshpet Inc. (NASDAQ:FRPT) was held by 27 hedge fund portfolios at the end of the fourth quarter, compared to 23 in the prior quarter.
In another article, we discussed FreshPet Inc. (NASDAQ:FRPT) and shared a list of the best pet stocks to buy. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
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