Artisan Partners, an investment management company, released its “Artisan Global Discovery Fund” first quarter 2024 investor letter. A copy of the letter can be downloaded here. In the first quarter, the fund’s Investor Class APFDX returned 8.40%, Advisor Class APDDX posted a return of 8.37%, and Institutional Class APHDX returned 8.48%, compared to an 8.20% return for the MSCI All Country World Index. Broad-based security selection contributions across health care, consumer staples, industrials, and consumer discretionary drove the fund’s outperformance in the quarter. This was partially offset by information technology. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Artisan Global Discovery Fund highlighted stocks like Celsius Holdings, Inc. (NASDAQ:CELH), in the first quarter 2024 investor letter. Celsius Holdings, Inc. (NASDAQ:CELH) is a functional drink and liquid supplements manufacturer and distributor. The one-month return of Celsius Holdings, Inc. (NASDAQ:CELH) was -19.85%, and its shares gained 15.82% of their value over the last 52 weeks. On July 2, 2024, Celsius Holdings, Inc. (NASDAQ:CELH) stock closed at $57.24 per share with a market capitalization of $13.342 billion.
Artisan Global Discovery Fund stated the following regarding Celsius Holdings, Inc. (NASDAQ:CELH) in its Q1 2024 investor letter:
“During the quarter, we initiated new GardenSM positions in Celsius Holdings, Inc. (NASDAQ:CELH), Babcock International and Vertiv. Celsius is an energy drink company viewed as a healthier option than its large competitors. We believe Celsius’ product portfolio both appeals to a broad demographic that is attracting new consumers and has more frequent usage occasions than other energy drinks, 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, expanding its distribution and increasing penetration wherever it’s already sold. The end result should be better product availability, increased 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 31 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Celsius Holdings, Inc. (NASDAQ:CELH) at the end of the first quarter which was 42 in the previous quarter. Celsius Holdings, Inc. (NASDAQ:CELH) generated $355.7 million in revenue, a 37% increase year over year, and achieved another record selling quarter. While we acknowledge the potential of Celsius Holdings, Inc. (NASDAQ:CELH) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
We discussed Celsius Holdings, Inc. (NASDAQ:CELH) in another article and shared the list of stocks whose price targets were recently trimmed by analysts. Celsius Holdings, Inc. (NASDAQ:CELH) contributed to the performance of Alger Mid Cap Growth Fund during the first quarter 2024 after reporting solid results. In addition, please check out our hedge fund investor letters Q1 2024 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.
