Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The final quarter of 2023 saw a continuous fluctuation between recessionary fears and soft-landing optimism. In the fourth quarter, the fund’s Investor Class fund ARTMX returned 8.86%, Advisor Class fund APDMX posted a return of 8.93%, and Institutional Class fund APHMX returned 8.96%, compared to a 14.55% return for the Russell Midcap Growth Index. The portfolio generated a positive absolute return in Q4 but underperformed the Russell Midcap Growth Index due to poor security selection, particularly in health care and information technology. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund featured stocks like Celsius Holdings, Inc. (NASDAQ:CELH) in the fourth quarter 2023 investor letter. Headquartered in Boca Raton, Florida, Celsius Holdings, Inc. (NASDAQ:CELH) is a functional drink and liquid supplements manufacturer and distributor. On March 6, 2024, Celsius Holdings, Inc. (NASDAQ:CELH) stock closed at $87.49 per share. One-month return of Celsius Holdings, Inc. (NASDAQ:CELH) was 49.02%, and its shares gained 201.69% of their value over the last 52 weeks. Celsius Holdings, Inc. (NASDAQ:CELH) has a market capitalization of $20.367 billion.
Artisan Mid Cap Fund stated the following regarding Celsius Holdings, Inc. (NASDAQ:CELH) in its fourth quarter 2023 investor letter:
“We initiated new GardenSM positions in Equifax, Celsius Holdings, Inc. (NASDAQ:CELH) and Xylem during the quarter. Celsius is an energy drink company viewed as providing a healthier option than its large competitors. We believe Celsius’ product portfolio appeals to a broad demographic, attracting new consumers and more frequent usage occasions in the energy drink category, enabling Celsius to grow sales through market share gains and market expansion. Furthermore, the company signed a US distribution partnership with PepsiCo in October 2022, which is bringing the product into new points of distribution while also improving its penetration across existing points of presence. The end result should be better product availability, increasing brand awareness, higher sales volumes and scale-driven margin improvements.”
A hand pouring a cool can of a carbonated non-alcoholic beverage with a smiley face on it.
Celsius Holdings, Inc. (NASDAQ:CELH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Celsius Holdings, Inc. (NASDAQ:CELH) was held by 42 hedge fund portfolios, up from 35 in the previous quarter, according to our database.
We discussed Celsius Holdings, Inc. (NASDAQ:CELH) in another article and shared the list of stocks that will double in 2024. 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.
