Polen Capital, an investment management company, released its “Polen Global Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund increased by 9.65% and 9.43 % gross and net of fees, respectively, compared to a 6.18% increase for the MSCI ACW Index. Year-to-date, the fund was up 22.46% and 21.87% gross and net of fees, respectively, compared to a 13.93% return for the index. Markets continued to be strong in the second quarter after a strong recovery in the first quarter of 2023 and are up robustly year to date. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen Global Growth Strategy highlighted stocks like Autodesk, Inc. (NASDAQ:ADSK) in the second quarter 2023 investor letter. Headquartered in San Francisco, California, Autodesk, Inc. (NASDAQ:ADSK) offers 3D design, engineering, and entertainment technology solutions. On August 16, 2023, Autodesk, Inc. (NASDAQ:ADSK) stock closed at $203.65 per share. One-month return of Autodesk, Inc. (NASDAQ:ADSK) was -3.47%, and its shares lost 11.02% of their value over the last 52 weeks. Autodesk, Inc. (NASDAQ:ADSK) has a market capitalization of $43.525 billion.
Polen Global Growth Strategy made the following comment about Autodesk, Inc. (NASDAQ:ADSK) in its second quarter 2023 investor letter:
“We trimmed our positions in Microsoft and Autodesk, Inc. (NASDAQ:ADSK) to help fund the new purchases. We used the Autodesk proceeds to take an initial position in Workday, which we added to further during the quarter. We think Autodesk remains an advantaged business with a long runway of mid-teens EPS growth potential, but we felt that Workday presented even more compelling long-term return potential. Both businesses were trading at similar valuations, but we see Workday growing EPS faster for the next several years.”
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Autodesk, Inc. (NASDAQ:ADSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Autodesk, Inc. (NASDAQ:ADSK) at the end of second quarter which was 57 in the previous quarter.
We discussed Autodesk, Inc. (NASDAQ:ADSK) in another article and shared the list of best machine learning stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
