Artisan Partners, an investment management company, released its “Artisan Global Opportunities Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTRX returned 5.73%, Advisor Class fund APDRX posted a return of 5.78%, and Institutional Class fund APHRX returned 5.83%, compared to a return of 6.18% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Global Opportunities Fund highlighted stocks like Workday, Inc. (NASDAQ:WDAY) in the second quarter 2023 investor letter. Headquartered in Pleasanton, California, Workday, Inc. (NASDAQ:WDAY) offers enterprise cloud applications. On September 19, 2023, Workday, Inc. (NASDAQ:WDAY) stock closed at $243.10 per share. One-month return of Workday, Inc. (NASDAQ:WDAY) was 5.59%, and its shares gained 61.01% of their value over the last 52 weeks. Workday, Inc. (NASDAQ:WDAY) has a market capitalization of $63.692 billion.
Artisan Global Opportunities Fund made the following comment about Workday, Inc. (NASDAQ:WDAY) in its Q2 2023 investor letter:
“We initiated new GardenSM positions in Workday, Inc. (NASDAQ:WDAY), ABB and Microsoft during the quarter. Workday engages in the development of enterprise cloud applications for finance and human capital. Since its launch in 2005, the company has pioneered the shift from on-premises to cloud in the human capital market. It has racked up over 4,000 core customers, commands greater than 50% market share in the human capital market among the Fortune 500 (up from ~40% three years ago and ~15% in 2015) and continues to expand its market share. Our view is that subscription growth can meaningfully outperform current estimates through cross-selling to customers that are looking to consolidate vendors, acquiring customers in emerging areas such as mid-sized and international companies, implementing price increases as renewals come due and increasing adoption of its financial management offering among the Fortune 500 customer base.”
Workday, Inc. (NASDAQ:WDAY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 71 hedge fund portfolios held Workday, Inc. (NASDAQ:WDAY) at the end of second quarter which was 86 in the previous quarter.
We discussed Workday, Inc. (NASDAQ:WDAY) in another article and shared the list of biggest technology companies. In addition, please check out our hedge fund investor letters Q2 2023 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.
