Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTMX returned -1.13%, Advisor Class fund APDMX posted a return of -1.12%, and Institutional Class fund APHMX returned -1.07%, compared to a return of 6.90% for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners highlighted stocks like Bentley Systems, Incorporated (NASDAQ:BSY) in the Q4 2022 investor letter. Headquartered in Exton, Pennsylvania, Bentley Systems, Incorporated (NASDAQ:BSY) is an infrastructure engineering software solutions provider. On January 19, 2023, Bentley Systems, Incorporated (NASDAQ:BSY) stock closed at $37.10 per share. One-month return of Bentley Systems, Incorporated (NASDAQ:BSY) was 0.84%, and its shares lost 3.66% of their value over the last 52 weeks. Bentley Systems, Incorporated (NASDAQ:BSY) has a market capitalization of $10.699 billion.
Artisan Partners made the following comment about Bentley Systems, Incorporated (NASDAQ:BSY) in its Q4 2022 investor letter:
“During the quarter, we began new GardenSM positions in Bentley Systems, Incorporated (NASDAQ:BSY), Halozyme and Saia. Bentley Systems is the leading provider of engineering software used to design roads, bridges, tunnels, rail systems and other public works. Construction is one of the least digitized verticals of the economy, and there are significant opportunities for software to increase the productivity of civil engineering projects. Business momentum is strengthening, and we view Bentley as well positioned to support the infrastructure spending that’s encouraged by the Infrastructure Investment and Jobs Act and Inflation Reduction Act. In fact, civil engineers may prove hardpressed to respond to accelerating project opportunities under these accelerated market conditions, further enhancing the importance of Bentley’s design tools. At a time when growth rates in software are generally seeing pressure, we believe this company has the potential to maintain its current pace, or even accelerate slightly, into 2023 given this backdrop.”
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Bentley Systems, Incorporated (NASDAQ:BSY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Bentley Systems, Incorporated (NASDAQ:BSY) at the end of the third quarter which was 12 in the previous quarter.
We discussed Bentley Systems, Incorporated (NASDAQ:BSY) in another article and shared the list of stocks that can crash after the Federal Reserve’s latest rate hike. 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.
