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Artisan Partners, an funding administration firm, launched its “Artisan Mid Cap Fund” first quarter 2024 investor letter. A replica of the identical will be downloaded here. Within the first quarter, the fund’s Investor Class fund ARTMX returned 10.41%, Advisor Class fund APDMX posted a return of 10.40%, and Institutional Class fund APHMX returned 10.44%, in comparison with a 9.50% return for the Russell Midcap Progress Index. Balanced safety choice throughout well being care, industrials, client staples, client discretionary, and communication providers led the portfolio to outperform the index within the quarter. As well as, please examine the fund’s high 5 holdings to know its finest picks in 2024.
Artisan Mid Cap Fund featured shares like Spotify Expertise S.A. (NYSE:SPOT) within the first quarter 2024 investor letter. Headquartered in Luxembourg Metropolis, Luxembourg, Spotify Expertise S.A. (NYSE:SPOT) gives audio streaming subscription providers. On April 11, 2024, Spotify Expertise S.A. (NYSE:SPOT) inventory closed at $303.57 per share. One-month return of Spotify Expertise S.A. (NYSE:SPOT) was 19.10%, and its shares gained 125.30% of their worth during the last 52 weeks. Spotify Expertise S.A. (NYSE:SPOT) has a market capitalization of $60.206 billion.
Artisan Mid Cap Fund said the next concerning Spotify Expertise S.A. (NYSE:SPOT) in its first quarter 2024 investor letter:
“Amongst our high Q1 contributors had been Chipotle, Shockwave Medical and Spotify Expertise S.A. (NYSE:SPOT) is a number one world audio streaming franchise with 600 million month-to-month energetic customers. We imagine its place within the provide chain is stable given a secular development across the fragmentation of music in addition to inner product and pricing initiatives. Shares rallied after the corporate reported robust earnings outcomes, together with development of 23% for month-to-month energetic customers, 15% for premium subscribers and 16% for income. The corporate additionally reported 140bps of gross margin enlargement, to 26.7%, which we imagine nonetheless has additional to go as a consequence of possible value will increase, doubtlessly higher phrases with labels and additional price self-discipline.”
An individual carrying headphones listening to an audio streaming service.
Spotify Expertise S.A. (NYSE:SPOT) shouldn’t be on our checklist of 30 Most Popular Stocks Among Hedge Funds. On the finish of the fourth quarter, Spotify Expertise S.A. (NYSE:SPOT) was held by 68 hedge fund portfolios, in comparison with 53 within the earlier quarter, in response to our database.
We beforehand mentioned Spotify Expertise S.A. (NYSE:SPOT) in another article, the place we shared the checklist of most dear leisure firms on the planet. As well as, please try our hedge fund investor letters Q1 2024 web page for extra investor letters from hedge funds and different main traders.
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Disclosure: None. This text is initially revealed at Insider Monkey.
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