Artisan Partners, an investment management company, has announced the fourth quarter 2023 investor letter for its Artisan Mid Cap Fund. You can download a copy of the same here. The final quarter of 2023 saw constant fluctuations between recession fears and soft-landing optimism. The fund's investor class fund ARTMX returned 8.86% in the fourth quarter, its advisor class fund APDMX returned 8.93%, and its institutional investor class fund APHMX returned 8.96%, compared to Russell Midcap Growth. The index return was 14.55%. Although the portfolio generated positive absolute returns in the fourth quarter, it underperformed the Russell Mid-Cap Growth Index due to poor selection of securities, particularly in healthcare and information technology. Plus, check out the fund's top 5 holdings to find out the best stocks for 2023.
Artisan Mid Cap Fund included stocks such as Agilon Health, Inc.; (NYSE:AGL) Q4 2023 Investor Letter. Headquartered in Austin, Texas, his Agilon Health, Inc. (NYSE: AGL) is a primary care physician-led health care provider for seniors. On March 7, 2024, Agilon Health, inc. (NYSE: AGL) stock closed at $5.93 per share. Agilon Health, inc.'s 1-month return (NYSE: AGL) is -16.36%, and its stock has lost 74.95% of its value over the past 52 weeks. Agilon Health, Inc. (NYSE:AGL) has a market capitalization of $2,429 million.
Artisan Mid Cap Fund says of Agilon Health, Inc.: (NYSE: AGL) in his Q4 2023 investor letter:
“We have concluded our investment campaign Agilon Health Co., Ltd. (NYSE:AGL) and BioNTech increased during the quarter. The company plans to launch Agilon in early 2023 because its healthcare delivery model has the potential to provide high-quality, low-cost care to older adults, a growing market due to an aging population. We have started a position at GardenSM. The company's ability to scale while increasing margins has been our biggest point of uncertainty, but while membership growth remains strong, medical margins are struggling. It paid off. After coming to the conclusion that the chances of success had diminished, we decided to move on in favor of a higher-conviction idea. ”
A doctor in scrubs interacts with Medicare Advantage members at home.
Agilon Health Inc. (NYSE:AGL) isn't included in our list of 30 most popular stocks among hedge funds. At the end of the fourth quarter, Agilon Health, Inc. (NYSE:AGL) was held by 24 hedge fund portfolios according to our database, up from 19 at the prior quarter.
We discussed Agilon Health, Inc. (NYSE:AGL) shared a list of the fastest growing stocks under $25 in a separate article. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q4 2023 page.
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Disclosure: None. This article was originally published on Insider Monkey.
