Artisan Partners, an investment management company, released its “Artisan Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund outperformed the Russell 1000 Value Index. Its Investor Class fund ARTLX returned 14.04%, Advisor Class fund APDLX posted a return of 14.14%, and Institutional Class fund APHLX returned 14.10% in the quarter, compared to a 12.42% return for the benchmark index. Positive stock selection led to the outperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Value Fund highlighted stocks like Alphabet Inc. (NASDAQ:GOOG) in the Q4 2022 investor letter. Headquartered in Mountain View, California, Alphabet Inc. (NASDAQ:GOOG) is a multinational technology company. On March 1, 2023, Alphabet Inc. (NASDAQ:GOOG) stock closed at $90.51 per share. One-month return of Alphabet Inc. (NASDAQ:GOOG) was -16.81%, and its shares lost 32.61% of their value over the last 52 weeks. Alphabet Inc. (NASDAQ:GOOG) has a market capitalization of $1.158 trillion.
Artisan Value Fund made the following comment about Alphabet Inc. (NASDAQ:GOOG) in its Q4 2022 investor letter:
“Our biggest detractors in Q4 included communication services sector holdings Alphabet Inc. (NASDAQ:GOOG) and Warner Bros Discovery (WBD). For Alphabet, Google’s parent company, growth has decelerated as advertisers have pulled back on digital ad spend following a COVID-driven acceleration as well as due to economic uncertainties. Longer term, Alphabet remains well positioned to win in multiple ways, whether in search, online video or in the cloud. We continue to see large profit pools for Alphabet in the early stages of monetization, along with the migration of advertising dollars away from traditional mediums, like TV, to online search and video. These factors give us confidence Alphabet continues to have a long runway to grow revenue and profits. Additionally, management has returned capital to shareholders— another lever that can be used to increase the per share value of the business. We view Alphabet as one of the best businesses in the world, capable of expanding revenues at an above-average rate for years to come, with a bulletproof balance sheet and an average asking price. It’s a name we’ve held since 2015, and we believe Alphabet will continue to be a strong compounder of value in the future.”
Pixabay/Public Domain
Alphabet Inc. (NASDAQ:GOOG) is in 6th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 152 hedge fund portfolios held Alphabet Inc. (NASDAQ:GOOG) at the end of the fourth quarter which was 156 in the previous quarter.
We discussed Alphabet Inc. (NASDAQ:GOOG) in another article and shared Baron Opportunity Fund’s views on the company. 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.
