Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. Equity markets surged at the beginning of 2024 in anticipation of the US economy entering a “goldilocks” scenario – a soft landing combined with decreasing inflation, potentially leading to a cut in interest rates by the Fed. In the first quarter, its Investor Class fund ARTSX returned 9.43%, Advisor Class fund APDSX posted a return of 9.42%, and Institutional Class fund APHSX returned 9.48%, compared to a return of 7.58% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Artisan Small Cap Fund highlighted stocks like DoubleVerify Holdings, Inc. (NYSE:DV), in the first quarter 2024 investor letter. DoubleVerify Holdings, Inc. (NYSE:DV) is a software platform provider for digital media measurement and data analytics. The one-month return of DoubleVerify Holdings, Inc. (NYSE:DV) was -35.90%, and its shares lost 45.37% of their value over the last 52 weeks. On May 28, 2024, DoubleVerify Holdings, Inc. (NYSE:DV) stock closed at $19.05 per share with a market capitalization of $3.273 billion.
Artisan Small Cap Fund stated the following regarding DoubleVerify Holdings, Inc. (NYSE:DV) in its first quarter 2024 investor letter:
“We ended our investment campaigns in DoubleVerify Holdings, Inc. (NYSE:DV) during the quarter. DoubleVerify is the leading provider of data analytics that enable advertisers to increase the effectiveness, quality and return on their digital advertising investments. Instead of advertisers having to manually aggregate each platform’s (e.g., Facebook, Twitter and Google) unique metrics into a cohesive reporting framework, they can use DoubleVerify’s software. It provides brands with consistency and standardization in measuring efficacy. We believed the company was well positioned to benefit from increased penetration of digital ad impressions in new channels and geographies, market share gains and upselling existing customers to more advanced and higher priced offerings. However, industry pricing dynamics have deteriorated, and we are concerned about a new entrant to the market, which led us to exit the position.”
A digital publisher using the company’s predictive analytics to create relevant content on a webpage.
DoubleVerify Holdings, Inc. (NYSE:DV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held DoubleVerify Holdings, Inc. (NYSE:DV) at the end of the first quarter which was 27 in the previous quarter.
In the first quarter, DoubleVerify Holdings, Inc. (NYSE:DV) reported a 15% increase in total revenue to $141 million, primarily driven by a 16% growth in advertiser revenue.
Artisan Small Cap Fund added DoubleVerify Holdings, Inc. (NYSE:DV) to its portfolio in the second quarter 2022. In addition, please check out our hedge fund investor letters Q1 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.
