Artisan Partners, an investment management company, released its “Artisan Developing World Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Investor Class) returned 22.64% compared to 3.96% for the MSCI Emerging Markets Index. The fund has returned 85.15% cumulatively since June 30, 2015, compared to 22.24% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Developing World Fund highlighted stocks like NVIDIA Corporation (NASDAQ:NVDA) in the first quarter 2023 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) provides computer graphics processors, chipsets, and related multimedia software. On April 18, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $276.67 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was 4.53%, and its shares gained 28.79% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $683.375 billion.
Artisan Developing World Fund made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q1 2023 investor letter:
“Top contributors to performance for the quarter included graphics semiconductor company NVIDIA Corporation (NASDAQ:NVDA). Nvidia benefited from rising excitement in artificial intelligence (AI) as ChatGPT captured the attention of people around the world; Nvidia also experienced signs of a cyclical upturn in gaming, stability in its data center business despite economic headwinds, and continued growth in its burgeoning auto business. Notably, our top four holdings entering the quarter (Sea, Meli, Nvidia, Airbnb) which represented 24.37% of capital on December 31, 2022, increased an average of 64.42% during the quarter.”
NVIDIA Corporation (NASDAQ:NVDA) is in 28th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of the fourth quarter which was 89 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the list of best FAANG stocks to buy. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.