Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners highlighted stocks like Entegris, Inc. (NASDAQ:ENTG) in the Q4 2022 investor letter. Headquartered in Billerica, Massachusetts, Entegris, Inc. (NASDAQ:ENTG) is a micro contamination control products manufacturing company. On January 19, 2023, Entegris, Inc. (NASDAQ:ENTG) stock closed at $75.54 per share. One-month return of Entegris, Inc. (NASDAQ:ENTG) was 15.35%, and its shares lost 37.17% of their value over the last 52 weeks. Entegris, Inc. (NASDAQ:ENTG) has a market capitalization of $11.258 billion.
Artisan Partners made the following comment about Entegris, Inc. (NASDAQ:ENTG) in its Q4 2022 investor letter:
“We ended our investment campaigns in Entegris, Inc. (NASDAQ:ENTG), Generac and Trimble during Q4. Entegris is one of the largest suppliers of advanced materials (high purity gases/chemicals) and filtration systems used in semiconductor manufacturing. Our investment in Entegris was based on the belief that the industry’s incredibly complex production environment is getting increasingly onerous—more process steps, greater purity requirements—which is expected to drive higher demand for Entegris’ products and systems over time. Unfortunately, the company completed a large acquisition in 2022, leaving its balance sheet stretched just as cyclical pressures on its memory customers began to weigh on profits, leading us to harvest the position to fund higher conviction investments within semiconductors.”
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Entegris, Inc. (NASDAQ:ENTG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Entegris, Inc. (NASDAQ:ENTG) at the end of the third quarter, which was 28 in the previous quarter.
We discussed Entegris, Inc. (NASDAQ:ENTG) in another article and shared TimesSquare Capital’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.
