Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio had a positive absolute return in Q4 but underperformed the Russell 2000 Growth Index due to security selection, particularly in the healthcare and information technology sectors. In the fourth quarter, its Investor Class fund ARTSX returned 9.18%, Advisor Class fund APDSX posted a return of 9.26%, and Institutional Class fund APHSX returned 9.28%, compared to a return of 12.75% for the Russell 2000 Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Small Cap Fund featured stocks like CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in the fourth 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 March 11, 2024, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) stock closed at $12.40 per share. One-month return of CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) was 11.91%, and its shares gained 44.02% of their value over the last 52 weeks. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) has a market capitalization of $7.637 billion.
Artisan Small Cap Fund stated the following regarding CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in its fourth quarter 2023 investor letter:
“Notable adds in the quarter included CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS), Procore Technologies and Smartsheet. 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 to its legacy customer base, expand its market share and monetize transactions over its platform. The company reported earnings results that were thesis affirming, and we took advantage of a secondary offering to build this GardenSM position.”
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. At the end of the fourth quarter, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) was held by 20 hedge fund portfolios, up from 16 in the previous quarter, according to our database.
We discussed CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in another article and shared Polen U.S. Small Company Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 20 US Metros with the Highest Median List Prices
- 20 Most Popular Religions in the World
- 15 Countries With the Most Beautiful Nature in Europe
Disclosure: None. This article is originally published at Insider Monkey.
