Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTSX returned -7.98%, Advisor Class fund APDSX posted a return of -7.96%, and Institutional Class fund APHSX returned -7.97%, compared to a return of -7.32% for the Russell 2000 Growth Index. From a sector perspective, allocation impacts drove the sector’s underperformance, while security selection was positive. From an allocation perspective, the portfolio was hurt by its lack of exposure to energy and overweight exposure to health care. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund highlighted stocks like CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in the third quarter 2023 investor letter. Headquartered in Chicago, Illinois, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) offers cloud, mobile, AI, telematics, hyper scale technologies, and applications for the P&C insurance economy. On November 30, 2023, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) stock closed at $11.68 per share. One-month return of CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) was 6.86%, and its shares gained 27.65% of their value over the last 52 weeks. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) has a market capitalization of $7.036 billion.
Artisan Small Cap Fund made the following comment about CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in its Q3 2023 investor letter:
“We initiated new GardenSM positions in WESCO, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) and Stevanato Group during the quarter. CCC Intelligent Solutions is the largest software as a service (SaaS) provider to both the accident claims process for US insurance companies and the US auto repair facilities market. We believe the company’s scale and longevity (founded in 1980) give it knowledge advantages in areas such as expected repair costs, parts availability and repair workflows. Furthermore, as a low-cost provider, the company benefits from insurers’ efforts to drive down repair costs and rental car times. We believe the company will drive growth by continuing to cross-sell and up-sell its legacy customer base, expand its market share and monetize the transactions over its platform.”
A data analyst with a headset, looking intently at the information unfolding on her screen.
CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) at the end of third quarter which was 16 in the previous quarter.
We discussed CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in another article and shared Polen Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.
