Artisan Partners, an investment management company, released its “Artisan Developing World Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Investor Class) returned -7.31% compared to -2.93% for the MSCI Emerging Markets Index. The fund has returned 74.89% cumulatively since June 30, 2015, compared to a 19.73% 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 Airbnb, Inc. (NASDAQ:ABNB) in the third quarter 2023 investor letter. Headquartered in San Francisco, California, Airbnb, Inc. (NASDAQ:ABNB) provides a platform to enable hosts to offer stays and experiences to guests. On October 11, 2023, Airbnb, Inc. (NASDAQ:ABNB) stock closed at $130.00 per share. One-month return of Airbnb, Inc. (NASDAQ:ABNB) was -9.80%, and its shares gained 15.40% of their value over the last 52 weeks. Airbnb, Inc. (NASDAQ:ABNB) has a market capitalization of $82.951 billion.
Artisan Developing World Fund made the following comment about Airbnb, Inc. (NASDAQ:ABNB) in its Q3 2023 investor letter:
“Top contributors to performance for the quarter included global online travel marketplace Airbnb, Inc. (NASDAQ:ABNB). Airbnb again defied fears about weaker travel demand as it experienced continued recovery in cross-border and urban nights and resilient pricing trends, though travel volumes remain mixed.”
Photo by Karsten Winegeart on Unsplash
Airbnb, Inc. (NASDAQ:ABNB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Airbnb, Inc. (NASDAQ:ABNB) at the end of the second quarter, which was 63 in the previous quarter.
We discussed Airbnb, Inc. (NASDAQ:ABNB) in another article and shared the list of stocks with AI catalysts in 2023. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 25 Countries with the Lowest Unemployment Rates in the World
- 30 Most Air Polluted Countries in the World
- 16 Highest Paying Monthly Dividend Stocks
Disclosure: None. This article is originally published at Insider Monkey.