Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTSX returned 6.27%, Advisor Class fund APDSX posted a return of 6.31%, and Institutional Class fund APHSX returned 6.38%, compared to a return of 4.13% for the Russell 2000 Growth Index. Security selection, especially strong holdings in the healthcare sector, drove the fund’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Small Cap Fund highlighted stocks like MarketAxess Holdings Inc. (NASDAQ:MKTX) in the Q4 2022 investor letter. Headquartered in New York, New York, MarketAxess Holdings Inc. (NASDAQ:MKTX) is an electronic trading platform provider. On March 1, 2023, MarketAxess Holdings Inc. (NASDAQ:MKTX) stock closed at $347.27 per share. One-month return of MarketAxess Holdings Inc. (NASDAQ:MKTX) was -8.60%, and its shares lost 3.72% of their value over the last 52 weeks. MarketAxess Holdings Inc. (NASDAQ:MKTX) has a market capitalization of $13.06 billion.
Artisan Small Cap Fund made the following comment about MarketAxess Holdings Inc. (NASDAQ:MKTX) in its Q4 2022 investor letter:
“As the leading US electronic credit trading network, we believe that MarketAxess Holdings Inc. (NASDAQ:MKTX) is in pole position to capture greater market share of trading volumes as global credit markets are increasingly shifting toward electronic trading venues. This transition is still in its early stages (US investment grade ~35%, US high yield ~25%, emerging markets ~25% and Eurobonds ~45%), and emerging opportunities such as municipal and treasury bonds are even lower. We have witnessed a step up in quarterly market share gains from continued adoption of “all to all” trading, new automation products and contribution from new markets (munis and treasuries). The increase in market share is coinciding with the potential for its multi-years long investment spending cycle to be nearing an end. In addition, volume and pricing headwinds that were associated with the fast and high level of interest rate increases have the potential to at least moderate to potentially moving to be a tailwind to the profit cycle. As a result, we initiated a GardenSM position.”
Image by Sergei Tokmakov Terms.Law from Pixabay
MarketAxess Holdings Inc. (NASDAQ:MKTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held MarketAxess Holdings Inc. (NASDAQ:MKTX) at the end of the fourth quarter which was 32 in the previous quarter.
We discussed MarketAxess Holdings Inc. (NASDAQ:MKTX) in another article and shared the list of stocks to sell according to Motley Fool. 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.
