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 MercadoLibre, Inc. (NASDAQ:MELI) in the third quarter 2023 investor letter. Headquartered in Montevideo, Uruguay, Mercadolibre, Inc. (NASDAQ:MELI) is an online Commerce platform that operates through Mercado Libre Marketplace and Mercado Pago FinTech platform. On October 11, 2023, MercadoLibre, Inc. (NASDAQ:MELI) stock closed at $1,243.95 per share. One-month return of MercadoLibre, Inc. (NASDAQ:MELI) was -10.08%, and its shares gained 51.32% of their value over the last 52 weeks. MercadoLibre, Inc. (NASDAQ:MELI) has a market capitalization of $62.313 billion.
Artisan Developing World Fund made the following comment about MercadoLibre, Inc. (NASDAQ:MELI) in its Q3 2023 investor letter:
“Top contributors to performance for the quarter included Latin American marketplace MercadoLibre, Inc. (NASDAQ:MELI). MercadoLibre rose as a result of continued share gains across key markets and supportive Brazilian regulations aimed at creating a level playing field in cross-border e-commerce.”
ecommerce-2140604_1280
MercadoLibre, Inc. (NASDAQ:MELI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 77 hedge fund portfolios held MercadoLibre, Inc. (NASDAQ:MELI) at the end of second quarter which was 85 in the previous quarter.
We discussed MercadoLibre, Inc. (NASDAQ:MELI) in another article and shared the list of best aggressive growth stocks to buy according to hedge funds. 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:
- Top 20 Most Underdeveloped Countries In The World In 2023
- Wall Street Analysts Just Trimmed Price Targets for These 10 Stocks
- 16 Best Growth Stocks To Buy According To Hedge Funds
Disclosure: None. This article is originally published at Insider Monkey.