Slowdown Concerns Dragged Grab Holdings Limited (GRAB) in Q1

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Investor Class) returned 22.64% compared to 3.96% for the MSCI Emerging Markets Index. The fund has returned 85.15% cumulatively since June 30, 2015, compared to 22.24% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Developing World Fund highlighted stocks like Grab Holdings Limited (NASDAQ:GRAB) in the first quarter 2023 investor letter. Headquartered in Singapore, Grab Holdings Limited (NASDAQ:GRAB) is a technology platform that provides super-apps to access mobility, delivery, financial services, and enterprise offerings. On April 18, 2023, Grab Holdings Limited (NASDAQ:GRAB) stock closed at $2.990 per share. One-month return of Grab Holdings Limited (NASDAQ:GRAB) was 7.55%, and its shares lost 0.66% of their value over the last 52 weeks. Grab Holdings Limited (NASDAQ:GRAB) has a market capitalization of $11.482 billion.

Artisan Developing World Fund made the following comment about Grab Holdings Limited (NASDAQ:GRAB) in its Q1 2023 investor letter:

“Bottom contributors to performance for the quarter included Southeast Asian technology platform Grab Holdings Limited (NASDAQ:GRAB). Grab fell due to concerns about a slowdown in its food delivery business despite continued growth and recovery in ride hailing, and perhaps due to the technical selling pressure from prominent pre-IPO shareholders.”

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Grab Holdings Limited (NASDAQ:GRAB) is not on our list of 30 Most Popular Stocks Among Hedge Funds.  As per our database, 23 hedge fund portfolios held Grab Holdings Limited (NASDAQ:GRAB) at the end of the fourth quarter which was 23 in the previous quarter. 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.