Artisan Partners, an investment management company, released its “Artisan Developing World Fund” second quarter 2024 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund (Investor Class) returned 4.72% compared to 5.00% for the MSCI Emerging Markets Index. The Artisan Developing World Fund has returned 127.46% cumulatively, since June 30, 2015, compared to 38.81% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Artisan Developing World Fund highlighted stocks like LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY), in the second quarter 2024 investor letter. LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) is a luxury goods company. The one-month return of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) was -5.11%, and its shares lost 19.68% of their value over the last 52 weeks. On July 8, 2024, LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) stock closed at $150.80 per share with a market capitalization of $387.233 billion.
Artisan Developing World Fund stated the following regarding LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) in its Q2 2024 investor letter:
“Bottom contributors to performance for the quarter included French luxury goods group LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY). LVMH declined due to the tough macro backdrop in China, and concerns that inflation will weigh on less affluent cohorts in developed markets.
We may also seek to emphasize supply-constrained businesses such as Kweichow Moutai or Hermes, or well diversified businesses such as LVMH, to further dampen revenue variability. Importantly, correlation stocks can also create significant value over time as they compound, particularly when aided by high incremental margin structures such that profits accrue disproportionately to the bottom line. However, their principal portfolio function is to provide the stability and staying power to pursue businesses with high revenue velocity and high incremental margin structures.”
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LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 2 hedge fund portfolios held LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) at the end of the first quarter which was 2 in the previous quarter. While we acknowledge the potential of LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) 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 discussed LVMH Moët Hennessy – Louis Vuitton, Société Européenne (NYSE:LVMUY) in another article and shared the list of ‘Super 7’ European Stocks Jim Cramer likes. In addition, please check out our hedge fund investor letters Q2 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.
