Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, its Investor Class fund ARTMX returned 12.37%, Advisor Class fund APDMX posted a return of 12.43%, and Institutional Class fund APHMX returned 12.43%, compared to a 9.14% return for the Russell Midcap Growth Index. Positive stock selection drove the portfolio to outperform in the quarter and was most pronounced in the information technology and healthcare sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund highlighted stocks like Nasdaq, Inc. (NASDAQ:NDAQ) in the first quarter 2023 investor letter. Headquartered in New York, New York, Nasdaq, Inc. (NASDAQ:NDAQ) is a technology company that serves capital markets and other industries. On June 21, 2023, Nasdaq, Inc. (NASDAQ:NDAQ) stock closed at $50.56 per share. One-month return of Nasdaq, Inc. (NASDAQ:NDAQ) was -4.93%, and its shares lost 4.16% of their value over the last 52 weeks. Nasdaq, Inc. (NASDAQ:NDAQ) has a market capitalization of $24.813 billion.
Artisan Mid Cap Fund made the following comment about Nasdaq, Inc. (NASDAQ:NDAQ) in its first quarter 2023 investor letter:
“Nasdaq, Inc. (NASDAQ:NDAQ) is the second-largest diversified global exchange and a technology provider for US and European capital markets. While the company is well-known for its US stock exchange, the current management team is transitioning Nasdaq away from this more mature and volatile business and toward faster growing software and information service models. Shares fell after reporting top- and bottom-line results that were weaker than expectations. While the primary driver of the top-line miss was lower AUM-based index revenues, the other businesses were not able to offset the decline as we would have expected. Given this fundamental slowdown, combined with an unexpected management departure, we decided to trim the position.”
Photo by Pascal Bernardon on Unsplash
Nasdaq, Inc. (NASDAQ:NDAQ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held Nasdaq, Inc. (NASDAQ:NDAQ) at the end of first quarter 2023 which was 35 in the previous quarter.
We discussed Nasdaq, Inc. (NASDAQ:NDAQ) in another article and shared the list of best news and digital media stocks to buy. In addition, please check out our hedge fund investor letters Q1 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.
