Artisan Partners, an investment management company, released its “Artisan International Value Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTKX returned 3.97%, Advisor Class fund APDKX posted a return of 3.99%, and Institutional Class fund APHKX returned 4.02%, compared to a return of 2.95% for the MSCI EAFE Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan International Value Fund highlighted stocks like Koninklijke Philips N.V. (NYSE:PHG) in the second quarter 2023 investor letter. Headquartered in Amsterdam, the Netherlands, Koninklijke Philips N.V. (NYSE:PHG) is a health technology company. On September 1, 2023, Koninklijke Philips N.V. (NYSE:PHG) stock closed at $21.88 per share. One-month return of Koninklijke Philips N.V. (NYSE:PHG) was 6.01%, and its shares gained 41.18% of their value over the last 52 weeks. Koninklijke Philips N.V. (NYSE:PHG) has a market capitalization of $20.915 billion.
Artisan International Value Fund made the following comment about Koninklijke Philips N.V. (NYSE:PHG) in its second quarter 2023 investor letter:
“Samsung Electronics, Koninklijke Philips N.V. (NYSE:PHG) and ABB were the largest positive contributors to the portfolio’s return this quarter.
Philips is a Netherlands-based med-tech company. As we’ve written about before, the company is executing a disruptive recall of one of its products. That recall has come with related fines and lawsuits. During the quarter, the company reported improved financial results. In addition, testing results on the company’s recalled CPAP machine revealed little to no harm to humans. Those results may help mitigate the cost of any eventual legal liability. The share price increased by 24%.”
VILevi/Shutterstock.com
Koninklijke Philips N.V. (NYSE:PHG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 10 hedge fund portfolios held Koninklijke Philips N.V. (NYSE:PHG) at the end of second quarter which was 8 in the previous quarter.
We discussed Koninklijke Philips N.V. (NYSE:PHG) in another article and shared the list of most popular consumer electronics brands. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 15 Countries That Produce the Most E-waste in the World
- 25 Most Illiterate Cities in America
- 25 Richest to Poorest Countries in Europe by GDP Per Capita (PPP)
Disclosure: None. This article is originally published at Insider Monkey.
