Artisan Partners, an investment management company, released its “Artisan Developing World Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund (Investor Class) returned 1.91% compared to 0.90% for the MSCI Emerging Markets Index. The fund has returned 88.68% cumulatively since June 30, 2015, compared to a 23.33% return 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 Bilibili Inc. (NASDAQ:BILI) in the second quarter 2023 investor letter. Headquartered in Shanghai, the People’s Republic of China, Bilibili Inc. (NASDAQ:BILI) is an online entertainment services provider. On July 10, 2023, Bilibili Inc. (NASDAQ:BILI) stock closed at $14.89 per share. One-month return of Bilibili Inc. (NASDAQ:BILI) was -11.74%, and its shares lost 38.60% of their value over the last 52 weeks. Bilibili Inc. (NASDAQ:BILI) has a market capitalization of $6.115 billion.
Artisan Developing World Fund made the following comment about Bilibili Inc. (NASDAQ:BILI) in its second quarter 2023 investor letter:
“Bottom contributors to performance for the quarter included Chinese video streaming platform Bilibili Inc. (NASDAQ:BILI). Bilibili fell after reported gaming revenue decay in legacy titles and an underwhelming advertising recovery, though cost-cutting measures and balance sheet optimization have been visible.”
Concept Photo/Shutterstock.com
Bilibili Inc. (NASDAQ:BILI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Bilibili Inc. (NASDAQ:BILI) at the end of first quarter which was 15 in the previous quarter.
We discussed Bilibili Inc. (NASDAQ:BILI) in another article and shared the list of most promising mid-cap stocks according to analysts. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 20 Countries With The Best Architecture
- 20 Largest Silver Producing Countries In The World
- 25 Largest Craft Breweries in the US by Volume
Disclosure: None. This article is originally published at Insider Monkey.