Artisan Partners, an investment management company, released its “Artisan Global Opportunities Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. US equities experienced significant gains in Q4, showcasing a strong year. The portfolio showed slight weakness in Q4 but posted a strong absolute return in 2024. In the fourth quarter, the fund’s Investor Class ARTRX returned -1.67%, Advisor Class APDRX posted a return of -1.65% and Institutional Class APHRX returned -1.62%, compared to a -0.99% return for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Artisan Global Opportunities Fund emphasized stocks such as Shopify Inc. Class A (NYSE:SHOP). Shopify Inc. (NASDAQ:SHOP) provides a cloud-based commerce platform and services. The one-month return Shopify Inc. (NASDAQ:SHOP) was -1.80%, and its shares gained 34.54% of their value over the last 52 weeks. On April 2, 2025, Shopify Inc. (NASDAQ:SHOP) stock closed at $100.65 per share with a market capitalization of $130.609 billion.
Artisan Global Opportunities Fund stated the following regarding Shopify Inc. (NASDAQ:SHOP) in its Q4 2024 investor letter:
“Among our top Q4 contributors were Atlassian and Shopify Inc. (NASDAQ:SHOP). Our conviction in Shopify grew after it decided to exit the logistics business in favor of a capital-light partnership model, which we viewed as significantly narrowing the downside range of outcomes and allowed it to focus on what it does so well: developing great e-commerce software solutions for brands of all sizes. We have been encouraged by Shopify’s subsequent pace of innovative new product enhancements, including using AI assistants to help brands run their businesses. Shares rallied after the company reported strong earnings results, including 24% growth in gross merchandise volume, and management raised its forward guidance.”
Shopify Inc. (NASDAQ:SHOP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held Shopify Inc. (NYSE:SHOP) at the end of the fourth quarter compared to 56 in the third quarter. Shopify Inc.’s (NYSE:SHOP) fourth quarter revenue was $2.8 billion, up 31% year-over-year, and full-year revenue was up 26% to $8.9 billion. While we acknowledge the potential of Shopify Inc. (NYSE:SHOP) 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 covered Shopify Inc. (NASDAQ:SHOP) in another article, where we shared the list of best foreign stocks to buy according to billionaires. In addition, please check out our hedge fund investor letters Q4 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.