Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, its Investor Class fund ARTMX returned 12.37%, Advisor Class fund APDMX posted a return of 12.43%, and Institutional Class fund APHMX returned 12.43%, compared to a 9.14% return for the Russell Midcap Growth Index. Positive stock selection drove the portfolio to outperform in the quarter and was most pronounced in the information technology and healthcare sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund highlighted stocks like Verisk Analytics, Inc. (NASDAQ:VRSK) in the first quarter 2023 investor letter. Headquartered in Jersey City, New Jersey, Verisk Analytics, Inc. (NASDAQ:VRSK) is a data analytics solutions provider. On June 21, 2023, Verisk Analytics, Inc. (NASDAQ:VRSK) stock closed at $227.22 per share. One-month return of Verisk Analytics, Inc. (NASDAQ:VRSK) was 3.91%, and its shares gained 32.90% of their value over the last 52 weeks. Verisk Analytics, Inc. (NASDAQ:VRSK) has a market capitalization of $32.899 billion.
Artisan Mid Cap Fund made the following comment about Verisk Analytics, Inc. (NASDAQ:VRSK) in its first quarter 2023 investor letter:
“Notable adds in the quarter included Verisk Analytics, Inc. (NASDAQ:VRSK), Bentley Systems and Arthur J. Gallagher. Verisk Analytics is a leading provider of data and analytics for the property and casualty insurance industry. We initiated a GardenSM position in 2022 based on the belief that the new CEO was embarking on a major strategic shift to refocus the company on its core insurance franchise (one of the best businesses we follow), ending a decade-plus diversification effort that had proven overwhelmingly disappointing. With the company having divested its energy and credit information services assets, we increased our position. Importantly, the company expects this improved focus to result in better execution (faster growth and higher margins) for the core business, and signs of progress in this area are beginning to emerge.”
Speedcurve Performance Analytics
Verisk Analytics, Inc. (NASDAQ:VRSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held Verisk Analytics, Inc. (NASDAQ:VRSK) at the end of first quarter 2023 which was 36 in the previous quarter.
We discussed Verisk Analytics, Inc. (NASDAQ:VRSK) in another article and shared the list of best artificial intelligence stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q1 2023 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.
