Artisan Partners, an investment management company, released its “Artisan Global Opportunities Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTRX returned 5.73%, Advisor Class fund APDRX posted a return of 5.78%, and Institutional Class fund APHRX returned 5.83%, compared to a return of 6.18% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Global Opportunities Fund highlighted stocks like Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in the second quarter 2023 investor letter. Headquartered in Boston, Massachusetts, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is a biotechnology company. On September 19, 2023, Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) stock closed at $358.26 per share. One-month return of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) was 2.18%, and its shares gained 27.77% of their value over the last 52 weeks. Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) has a market capitalization of $92.465 billion.
Artisan Global Opportunities Fund made the following comment about Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in its Q2 2023 investor letter:
“Notable adds in the quarter included Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) and Intuit. Vertex is one of the only pharmaceutical companies in the world with an effective drug for cystic fibrosis, but the market has deemed it a slow-growth company due to existing market penetration. However, the drug is enabling patients to live longer, and the drug’s patient base is growing. Also, the company is developing a more potent formulation that we believe could increase efficacy while giving Vertex an opportunity to reprice and improve margins. Finally, its cystic fibrosis franchise is very cash generative, and the company has been using the capital to invest in a pipeline that we believe includes some interesting longer term opportunities. We added to the position after a couple of positive developments this quarter. First, its competitive position strengthened when a competitor, AbbVie, announced it will discontinue all work in cystic fibrosis. Second, there have been positive developments from the company’s pipeline, including encouraging early-stage results for a Type 1 diabetes stem cell therapy.”
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Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) at the end of second quarter which was 44 in the previous quarter.
We discussed Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) in another article and shared the list of DNA stocks that billionaires love. In addition, please check out our hedge fund investor letters Q2 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.
