Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The final quarter of 2023 saw a continuous fluctuation between recessionary fears and soft-landing optimism. In the fourth quarter, the fund’s Investor Class fund ARTMX returned 8.86%, Advisor Class fund APDMX posted a return of 8.93%, and Institutional Class fund APHMX returned 8.96%, compared to a 14.55% return for the Russell Midcap Growth Index. The portfolio generated a positive absolute return in Q4 but underperformed the Russell Midcap Growth Index due to poor security selection, particularly in health care and information technology. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund featured stocks like BioNTech SE (NASDAQ:BNTX) in the Q4 2023 investor letter. Headquartered in Mainz, Germany, BioNTech SE (NASDAQ:BNTX) is a biotechnology company. On March 7, 2024, BioNTech SE (NASDAQ:BNTX) stock closed at $91.09 per share. One-month return of BioNTech SE (NASDAQ:BNTX) was -3.20%, and its shares lost 28.44% of their value over the last 52 weeks. BioNTech SE (NASDAQ:BNTX) has a market capitalization of $21.654 billion.
Artisan Mid Cap Fund stated the following regarding BioNTech SE (NASDAQ:BNTX) in its fourth quarter 2023 investor letter:
“We ended our investment campaigns in Agilon and BioNTech SE (NASDAQ:BNTX) during the quarter. BioNTech is a biotech company focused on developing immunotherapies to treat cancer and other serious diseases. We successfully harvested a significant portion of this investment into the strong part of its COVID-19 vaccine profit cycle but held on to a smaller position based on our belief that management would use vaccine profits to reinvest in building an early-stage pipeline by leveraging its intellectual property in mRNA. While this pipeline may eventually yield promising medications within oncology and infectious diseases, patience will be required. In the meantime, demand for COVID-19 vaccine boosters continues to wane, and we decided to complete the Harvest.”
A microbiologist observing a petri dish of bacteria under a microscope.
BioNTech SE (NASDAQ:BNTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, BioNTech SE (NASDAQ:BNTX) was held by 14 hedge fund portfolios, down from 19 in the previous quarter, according to our database.
We discussed BioNTech SE (NASDAQ:BNTX) in another article and shared Baron Focused Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
