Artisan Partners, an investment management company, released its “Artisan Small Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTSX returned 6.27%, Advisor Class fund APDSX posted a return of 6.31%, and Institutional Class fund APHSX returned 6.38%, compared to a return of 4.13% for the Russell 2000 Growth Index. Security selection, especially strong holdings in the healthcare sector, drove the fund’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Small Cap Fund highlighted stocks like Silvergate Capital Corporation (NYSE:SI) in the Q4 2022 investor letter. Headquartered in La Jolla, California, Silvergate Capital Corporation (NYSE:SI) is a bank holding company. On March 2, 2023, Silvergate Capital Corporation (NYSE:SI) stock closed at $5.72 per share. One-month return of Silvergate Capital Corporation (NYSE:SI) was -72.72%, and its shares lost 95.28% of their value over the last 52 weeks. Silvergate Capital Corporation (NYSE:SI) has a market capitalization of $181.087 million.
Artisan Small Cap Fund made the following comment about Silvergate Capital Corporation (NYSE:SI) in its Q4 2022 investor letter:
“Silvergate Capital Corporation (NYSE:SI) (holding company for its wholly owned subsidiary, Silvergate Bank) is the leading regulated provider of traditional banking solutions to the digital currency industry. Our thesis was focused on its ability to expand the Silvergate Exchange Network (SEN), a proprietary, virtually instantaneous payment network for participants in the digital currency industry which serves as a platform for the development of additional products and services. As a bridge between regulated financial markets and the crypto industry, the company has established itself as a core infrastructure layer. Unfortunately, disruption in the digital asset industry, fueled by the unfolding demise of FTX, has once again raised uncertainty around the health of the digital asset industry overall. We not only questioned our profit cycle thesis given the issues at FTX, but we also had concerns surrounding the Silvergate franchise given the now increased level of regulatory uncertainty and decided to harvest our GardenSM position.”
Photo by Clay Banks on Unsplash
Silvergate Capital Corporation (NYSE:SI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Silvergate Capital Corporation (NYSE:SI) at the end of the fourth quarter which was 27 in the previous quarter.
We discussed Silvergate Capital Corporation (NYSE:SI) in another article and shared the list of stocks that recently received ratings cut from analysts. In addition, please check out our hedge fund investor letters Q4 2022 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.
