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 KE Holdings Inc. (NYSE:BEKE) in the Q2 2023 investor letter. Headquartered in Beijing, the People’s Republic of China, KE Holdings Inc. (NYSE:BEKE) operates online and offline platform for housing transactions. On July 10, 2023, KE Holdings Inc. (NYSE:BEKE) stock closed at $14.25 per share. One-month return of KE Holdings Inc. (NYSE:BEKE) was 12.84%, and its shares lost 5.38% of their value over the last 52 weeks. KE Holdings Inc. (NYSE:BEKE) has a market capitalization of $17.628 billion.
Artisan Developing World Fund made the following comment about KE Holdings Inc. (NYSE:BEKE) in its second quarter 2023 investor letter:
“Bottom contributors to performance for the quarter included real estate platform KE Holdings Inc. (NYSE:BEKE). Beike fell due to weaker industry property sales in China in April following the release of strong pent-up demand in Q1, despite accelerating revenue and very modest cost growth.”
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KE Holdings Inc. (NYSE:BEKE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 39 hedge fund portfolios held KE Holdings Inc. (NYSE:BEKE) at the end of first quarter which was 39 in the previous quarter.
We discussed KE Holdings Inc. (NYSE:BEKE) in another article and shared the list of Chinese stocks that billionaires are buying. 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.