Artisan Partners, a high value-added investment management firm, published its ‘Artisan Global Discovery Fund’ first quarter 2021 investor letter – a copy of which can be downloaded here. A return of -3.56% was recorded by its Investor Class: APFDX, -3.55% by its Advisor Class: APDDX, and -3.50% by its Institutional Class: APHDX for the first quarter of 2021, all below the MSCI All Country World Index that delivered a 4.57% return for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Artisan Partners, in its Q1 2021 investor letter, mentioned Cognex Corporation (NASDAQ: CGNX), and shared their insights on the company. Cognex Corporation is a Natick, Massachusetts-based commercial company that currently has a $14 billion market capitalization. Since the beginning of the year, CGNX delivered a -1.72% return, while its 12-month gains are up by 84.72%. As of May 28, 2021, the stock closed at $79.39 per share.
Here is what Artisan Partners has to say about Cognex Corporation in its Q1 2021 investor letter:
“We trimmed our position in Cognex. Cognex is an innovative manufacturer of machine vision systems that enable computers to identify, measure, locate and/or ensure quality in a production process at speeds which the human eye cannot process. Machine vision systems are used to ensure product quality (eliminating defects, verifying proper assembly) to automate production and track parts. Over the last several years, the company’s dominant market position has enabled it to experience impressive growth as demand for vision technology has rapidly increased. While we believe vision penetration is still in the early stages globally, shares have approached our private market value estimate, and we began harvesting our position in favor of more attractively priced opportunities in our pipeline.”
ndoeljindoel/Shutterstock.com
Our calculations show that Cognex Corporation (NASDAQ: CGNX) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the first quarter of 2021, Cognex Corporation was in 34 hedge fund portfolios, compared to 31 funds in the fourth quarter of 2020. CGNX delivered a -3.87% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
Disclosure: None. This article is originally published at Insider Monkey.
