Artisan Partners, an investment management company, released its “Artisan Global Opportunities Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTRX returned 5.73%, Advisor Class fund APDRX posted a return of 5.78%, and Institutional Class fund APHRX returned 5.83%, compared to a return of 6.18% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Global Opportunities Fund highlighted stocks like Microsoft Corporation (NASDAQ:MSFT) in the second quarter 2023 investor letter. Headquartered in Redmond, Washington, Microsoft Corporation (NASDAQ:MSFT) is a multinational software company that develops, and licenses software, services, devices, and solutions. On September 19, 2023, Microsoft Corporation (NASDAQ:MSFT) stock closed at $328.65 per share. One-month return of Microsoft Corporation (NASDAQ:MSFT) was 0.50%, and its shares gained 37.54% of their value over the last 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $2.442 trillion.
Artisan Global Opportunities Fund made the following comment about Microsoft Corporation (NASDAQ:MSFT) in its Q2 2023 investor letter:
“We initiated new GardenSM positions in Workday, ABB and Microsoft Corporation (NASDAQ:MSFT) during the quarter. We decided to start a new campaign in Microsoft this quarter based on our view that it is the cleanest and clearest way to invest in the rise of generative AI. The company is building AI-driven copilots (AI-driven productivity tools) into all parts of the ecosystem, and it has become increasingly clear to us that this is the way the world is moving. These efforts started with Microsoft-owned GitHub Copilot to help software developers write code more efficiently. However, Microsoft has announced new Copilot features across other applications, such as Windows, which could significantly improve productivity for its massive user base. Given the pace of innovation around introducing these features across its products (e.g., GitHub, Office 365, Dynamics 365), we believe knowledge workers will capture productivity gains and the company will capture higher revenues per user. Furthermore, the rise of AI will also lead to more Azure usage and strengthen its lead over public cloud competitors. Microsoft’s access to sell these fast-moving services to its existing base of enterprise customers simply cannot be matched by any of its peers.”
Roman Pyshchyk/Shutterstock.c.om
Microsoft Corporation (NASDAQ:MSFT) holds the first position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 300 hedge fund portfolios held Microsoft Corporation (NASDAQ:MSFT) at the end of second quarter which was 289 in the previous quarter.
We discussed Microsoft Corporation (NASDAQ:MSFT) in another article and shared the list of best low risk investments in 2023. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 17 Best Low Risk Investments in 2023
- 14 Best Undervalued Stocks To Buy Now
- 15 Penny Stocks with Biggest Upside
Disclosure: None. This article is originally published at Insider Monkey.
