Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio had a positive absolute return in Q4 but underperformed the Russell 2000 Growth Index due to security selection, particularly in the healthcare and information technology sectors. In the fourth quarter, its Investor Class fund ARTSX returned 9.18%, Advisor Class fund APDSX posted a return of 9.26%, and Institutional Class fund APHSX returned 9.28%, compared to a return of 12.75% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund featured stocks like Wingstop Inc. (NASDAQ:WING) in the fourth quarter 2023 investor letter. Headquartered in Addison, Texas, Wingstop Inc. (NASDAQ:WING) is a restaurant company that operates under the brand name Wingstop. On March 8, 2024, Wingstop Inc. (NASDAQ:WING) stock closed at $353.99 per share. One-month return of Wingstop Inc. (NASDAQ:WING) was 20.71%, and its shares gained 113.74% of their value over the last 52 weeks. Wingstop Inc. (NASDAQ:WING) has a market capitalization of $10.385 billion.
Artisan Small Cap Fund stated the following regarding Wingstop Inc. (NASDAQ:WING) in its fourth quarter 2023 investor letter:
“Among our top contributors in Q4 were Wingstop Inc. (NASDAQ:WING), Monolithic Power Systems and Ascendis. Wingstop is a quick-service restaurant franchisor specializing in fresh, cooked-to-order chicken products, including wings, sandwiches and side orders. The company is in the early stages of growing its store count domestically and internationally, which we believe is supported by attractive economics for franchisees and growing brand awareness. We continue to be impressed by the company’s earnings results, which are benefiting from strong same-store sales momentum driven by menu innovation, national branding efforts, integration of a second delivery provider (Uber Eats) and an ongoing value-based bundling strategy. After a strong performance in 2023, especially Q4, we trimmed the position based on our valuation discipline.”
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Wingstop Inc. (NASDAQ:WING) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Wingstop Inc. (NASDAQ:WING) was held by 32 hedge fund portfolios, up from 28 in the previous quarter, according to our database.
We discussed Wingstop Inc. (NASDAQ:WING) in another article and shared Polen Capital’s views on the company. 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.