Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTMX returned -22.47%, Advisor Class fund APDMX posted a return of -22.43%, and Institutional Class fund APHMX returned -22.40%, compared to a return of -21.07% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like ZoomInfo Technologies Inc. (NASDAQ:ZI) in the second quarter investor letter. Headquartered in Vancouver, Washington, ZoomInfo Technologies Inc. (NASDAQ:ZI) is a go-to-market-intelligence platform provider. On September 26, 2022, ZoomInfo Technologies Inc. (NASDAQ:ZI) stock closed at $39.19 per share. One-month return of ZoomInfo Technologies Inc. (NASDAQ:ZI) was -15.10% and its shares lost 35.78% of their value over the last 52 weeks. ZoomInfo Technologies Inc. (NASDAQ:ZI) has a market capitalization of $15.811 billion.
Here is what Artisan Partners specifically said about ZoomInfo Technologies Inc. (NASDAQ:ZI) in its Q2 2022 investor letter:
“ZoomInfo Technologies Inc. (NASDAQ:ZI) is a leading provider of contact databases and associated marketing automation tools for business-to-business sellers. We believe the company’s combination of data, insights and digital tools is being well received by companies looking to increase sales force productivity and enhance the returns on their substantial customer relationship management (CRM) software investments. In addition, the company has impressively grown its base data business and layered in more advanced software functionality while maintaining 40% operating margins. While ZoomInfo’s growth strategies have significant long-term growth runway, investors have grown increasingly skeptical about the durability of its top-line growth in a recession as customers potentially look to cut costs. Our research suggests ZoomInfo’s sales analytics tools offer solid paybacks to its customers, and we believe the company will still be able to efficiently reach new sales prospects in a downturn. With shares trading at an attractive valuation and our profit cycle thesis intact, we added modestly to our position.”
ZoomInfo Technologies Inc. (NASDAQ:ZI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held ZoomInfo Technologies Inc. (NASDAQ:ZI) at the end of the second quarter which was 51 in the previous quarter.
We discussed ZoomInfo Technologies Inc. (NASDAQ:ZI) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.
It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
How could anything be worth that much?
The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.
And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.
What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.
In fact, Verge argues this company’s supercheap AI technology should concern rivals.
Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.
Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.
Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…
But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.
And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…
This prediction might not be bold at all:
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