Artisan Partners, an investment management company, released its “Artisan Developing World Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund (Investor Class) returned 11.79% compared to 7.86% for the MSCI Emerging Markets Index. The fund has returned 95.52% cumulatively since June 30, 2015, compared to a 29.14% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.
In its Q4 2023 investor letter, Artisan Developing World Fund featured stocks such as Veeva Systems Inc. (NYSE:VEEV). Headquartered in Pleasanton, California, Veeva Systems Inc. (NYSE:VEEV) is a cloud-based software provider for the life sciences industry. On January 5, 2024, Veeva Systems Inc. (NYSE:VEEV) stock closed at $185.69 per share. One-month return of Veeva Systems Inc. (NYSE:VEEV) was 6.42%, and its shares gained 15.28% of their value over the last 52 weeks. Veeva Systems Inc. (NYSE:VEEV) has a market capitalization of $29.899 billion.
Artisan Developing World Fund stated the following regarding Veeva Systems Inc. (NYSE:VEEV) in its fourth quarter 2023 investor letter:
“Bottom contributors to performance for the quarter included cloud-based health care software company Veeva Systems Inc. (NYSE:VEEV). Veeva declined after management modestly reduced guidance, while investors remain concerned about the dissolution of the Salesforce partnership.”
A scientist working with a microscope in a laboratory, using the companys life science platform.
Veeva Systems Inc. (NYSE:VEEV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 41 hedge fund portfolios held Veeva Systems Inc. (NYSE:VEEV) at the end of third quarter which was 46 in the previous quarter.
We discussed Veeva Systems Inc. (NYSE:VEEV) in another article and shared the list of most promising gene editing stocks according to hedge funds. In addition, please check out our hedge fund investor letters Q4 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.