Artisan Partners Small Cap Fund’s Q3 2023 Investor Letter

Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTSX returned -7.98%, Advisor Class fund APDSX posted a return of -7.96%, and Institutional Class fund APHSX returned -7.97%, compared to a return of -7.32% for the Russell 2000 Growth Index. From a sector perspective, allocation impacts drove the sector’s underperformance, while security selection was positive. From an allocation perspective, the portfolio was hurt by its lack of exposure to energy and overweight exposure to health care. In addition, please check the fund’s top five holdings to know its best picks in 2023.