Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTSX returned 1.10%, Advisor Class fund APDSX posted a return of 1.19%, and Institutional Class fund APHSX returned 1.19%, compared to a return of 7.05% for the Russell 2000 Growth Index. Year-to-date, ARTSX, APDSX, and APHSX returned 8.78 %, 8.91%, and 8.91%, respectively, compared to a 13.55% return for the benchmark. Despite this year’s relative setback, the firm remains bullish on its asset class’s long-term prospects. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund highlighted stocks like Duolingo, Inc. (NASDAQ:DUOL) in the second quarter 2023 investor letter. Headquartered in Pittsburgh, Pennsylvania, Duolingo, Inc. (NASDAQ:DUOL) is a mobile learning platform. On August 29, 2023, Duolingo, Inc. (NASDAQ:DUOL) stock closed at $144.63 per share. One-month return of Duolingo, Inc. (NASDAQ:DUOL) was 0.33%, and its shares gained 53.83% of their value over the last 52 weeks. Duolingo, Inc. (NASDAQ:DUOL) has a market capitalization of $6.008 billion.
Artisan Small Cap Fund made the following comment about Duolingo, Inc. (NASDAQ:DUOL) in its second quarter 2023 investor letter:
“We initiated new GardenSM positions in Duolingo, Inc. (NASDAQ:DUOL), SPX Technologies and Smartsheet. Duolingo is an app-based learning platform that currently derives most of its revenues from subscriptions to its language learning app. However, it has expanded into new education verticals with the launch of Duolingo ABC, an early childhood education app, and elementary math. The company uses an ad[1]supported freemium model, and it is the most downloaded language learning app in most countries outside China. Duolingo has differentiated itself with a unique gamified approach that is at the core of its user engagement strategy while its machine learning algorithms leverage monthly users and daily tracking events to improve the overall learning experience and adapt personalized learning pathways for each user.”
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Duolingo, Inc. (NASDAQ:DUOL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Duolingo, Inc. (NASDAQ:DUOL) at the end of second quarter which was 24 in the previous quarter.
We discussed Duolingo, Inc. (NASDAQ:DUOL) in another article and shared the list of biggest EdTech companies in the world. 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.
