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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 such as BioNTech SE (NASDAQ:BNTX) in its Q4 2023 Investor Letter. BioNTech SE (NASDAQ:BNTX) is a biotechnology company headquartered in Mainz, Germany. On March 7, 2024, BioNTech SE (NASDAQ:BNTX) stock closed at $91.09 per share. His 1-month return for BioNTech SE (NASDAQ:BNTX) is -3.20%, and its stock has lost 28.44% of its value over the past 52 weeks. BioNTech SE (NASDAQ:BNTX) has a market capitalization of $21.654 billion.
Artisan Mid Cap Fund said the following about BioNTech SE (NASDAQ:BNTX) in its Q4 2023 Investor Letter:
“We have concluded our investment campaign in Agilon, BioNTech SE (NASDAQ:BNTX) during the quarter. BioNTech is a biotechnology company focused on developing immunotherapies to treat cancer and other serious diseases. We were successful in recouping a large portion of this investment into a strong part of the COVID-19 vaccine revenue cycle, but we believe management is leveraging vaccine revenues to refocus on building an early-stage pipeline. I maintained a smaller position based on the belief that I would invest. mRNA Intellectual Property. This pipeline could ultimately yield promising drugs in oncology and infectious diseases, but patience is required. Meanwhile, demand for COVID-19 vaccine boosters continues to decline, so we decided to complete the harvest. ”
A microbiologist observing a petri dish of bacteria under a microscope.
BioNTech SE (NASDAQ:BNTX) isn’t on our list of 30 most popular stocks among hedge funds. According to our database, at the end of the fourth quarter, BioNTech SE (NASDAQ:BNTX) was held by 14 hedge fund portfolios, down from 19 at the prior quarter.
We discussed BioNTech SE (NASDAQ:BNTX) in a separate article and shared Baron Focused Growth Fund’s view on the company. 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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