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 Rockwell Automation, Inc. (NYSE:ROK) in the first quarter 2023 investor letter. Headquartered in Milwaukee, Wisconsin, Rockwell Automation, Inc. (NYSE:ROK) provides industrial automation and digital transformation solutions. On June 21, 2023, Rockwell Automation, Inc. (NYSE:ROK) stock closed at $320.75 per share. One-month return of Rockwell Automation, Inc. (NYSE:ROK) was 17.31%, and its shares gained 62.67% of their value over the last 52 weeks. Rockwell Automation, Inc. (NYSE:ROK) has a market capitalization of $36.846 billion.
Artisan Mid Cap Fund made the following comment about Rockwell Automation, Inc. (NYSE:ROK) in its first quarter 2023 investor letter:
“Rockwell Automation, Inc. (NYSE:ROK) is a leading provider of industrial automation technology. The company has a strong brand, installed base and distribution network and is expanding its product offering to include more cloud-based software to complement its leading hardware business. In the coming years, we expect the company to benefit from an acceleration in US manufacturing investment to support customers’ nearshoring initiatives and in response to federal government incentive programs to manufacture energy transition products domestically. In addition, we expect Rockwell to experience revenue and margin tailwinds in 2023 from easing supply chain constraints, which limited its ability to meet customer demand in 2022.”
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Rockwell Automation, Inc. (NYSE:ROK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Rockwell Automation, Inc. (NYSE:ROK) at the end of first quarter 2023 which was 34 in the previous quarter.
We discussed Rockwell Automation, Inc. (NYSE:ROK) in another article and shared the list of best automation 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.
