Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Inflation remained on a downward trend in the quarter and the fund’s Investor Class fund ARTMX returned -2.95%, Advisor Class fund APDMX posted a return of -2.92%, and Institutional Class fund APHMX returned -2.90%, compared to a -5.22% return for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund highlighted stocks like Teledyne Technologies Incorporated (NYSE:TDY) in the third quarter investor letter. Headquartered in Thousand Oaks, California, Teledyne Technologies Incorporated (NYSE:TDY) is an enabling technologies provider for industrial growth. On December 5, 2023, Teledyne Technologies Incorporated (NYSE:TDY) stock closed at $402.05 per share. One-month return of Teledyne Technologies Incorporated (NYSE:TDY) was 6.14%, and its shares lost 2.21% of their value over the last 52 weeks. Teledyne Technologies Incorporated (NYSE:TDY) has a market capitalization of $19.326 billion.
Artisan Mid Cap Fund made the following comment about Teledyne Technologies Incorporated (NYSE:TDY) in its Q3 2023 investor letter:
“We ended our investment campaigns in Agilent, Teledyne Technologies Incorporated (NYSE:TDY) and Envista during the quarter. Teledyne is a supplier of enabling technologies to sense, transmit and analyze information for a diverse group of end markets, including aerospace and defense, factory automation, medical imaging, oil and gas, pharmaceutical research and environmental monitoring. Despite reporting financial results that were in line with expectations, we believe the profit cycle is maturing and the company lacks material near-term catalysts. Therefore, we decided to exit the position given better opportunities for the capital.”
An entrepreneur presenting the latest technology innovation in electrical components.
Teledyne Technologies Incorporated (NYSE:TDY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Teledyne Technologies Incorporated (NYSE:TDY) at the end of third quarter which was 39 in the previous quarter.
We discussed Teledyne Technologies Incorporated (NYSE:TDY) in another article and shared Artisan Mid Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 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.
