Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The third quarter saw strength in small cap stocks, particularly in July when the return on the Russell 2000 Index was 10.2%. In the quarter, its Investor Class fund ARTSX returned 9.02%, Advisor Class fund APDSX posted a return of 9.04%, and Institutional Class fund APHSX returned 9.06%, compared to a return of 8.41% for the Russell 2000 Growth Index. Outperformance of the fund in the quarter was driven by positive security selection within health care and consumer discretionary sectors. In addition, you can check the fund’s top 5 holdings to find out its best picks for 2024.
Artisan Small Cap Fund highlighted stocks like Hamilton Lane Incorporated (NASDAQ:HLNE), in the third quarter 2024 investor letter. Hamilton Lane Incorporated (NASDAQ:HLNE) is a private equity and venture capital firm, with a market capitalization of $9.68 billion. The one-month return of Hamilton Lane Incorporated (NASDAQ:HLNE) was -8.32%, and its shares gained 62.19% of their value over the last 52 weeks. On November 29, 2024, Hamilton Lane Incorporated (NASDAQ:HLNE) stock closed at $174.55 per share.
Artisan Small Cap Fund stated the following regarding Hamilton Lane Incorporated (NASDAQ:HLNE) in its Q3 2024 investor letter:
“During the quarter, we initiated new GardenSM positions in Hamilton Lane Incorporated (NASDAQ:HLNE), Installed Building Products and Colliers International Group. Hamilton Lane is one of the largest global private markets data and analytics providers. The company enjoys significant market share (its services are used to direct ~8% of private market allocations) and a strong brand built on decades of helping asset owners allocate funds into private markets. A formidable reputation has enabled the company to extend into discretionary allocation of client capital through its asset management products. As private market investing grows, we believe the company will disproportionately benefit from greater global asset owner interest in private market offerings and the further adoption of its own private market solutions.”
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Hamilton Lane Incorporated (NASDAQ:HLNE) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Hamilton Lane Incorporated (NASDAQ:HLNE) at the end of the third quarter which was 18 in the previous quarter. While we acknowledge the potential of Hamilton Lane Incorporated (NASDAQ:HLNE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Hamilton Lane Incorporated (NASDAQ:HLNE) and shared Alger Weatherbie Specialized Growth Fund’s views on the company. Hamilton Lane Incorporated (NASDAQ:HLNE) was one of Polen U.S. Small Company Growth Strategy’s top three contributors during the third quarter. In addition, please check out our hedge fund investor letters Q3 2024 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.