Published on 12 Apr 2024 on Insider Monkey via Yahoo Finance
Artisan Mid Cap Fund Exited Lululemon Athletica (LULU) Due To Valuation Discipline
Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” first quarter 2024 investor letter. A copy of the same can be downloaded here. In 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%, compared to a 9.50% return for the Russell Midcap Growth Index. Balanced security selection across health care, industrials, consumer staples, consumer discretionary, and communication services led the portfolio to outperform the index in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Artisan Mid Cap Fund featured stocks like Lululemon Athletica Inc. (NASDAQ:LULU) in the first quarter 2024 investor letter. Headquartered in Vancouver, Canada, Lululemon Athletica Inc. (NASDAQ:LULU) designs and distributes athletic apparel, footwear, and accessories. On April 11, 2024, Lululemon Athletica Inc. (NASDAQ:LULU) stock closed at $349.92 per share. One-month return of Lululemon Athletica Inc. (NASDAQ:LULU) was -25.52%, and its shares lost 5.96% of their value over the last 52 weeks. Lululemon Athletica Inc. (NASDAQ:LULU) has a market capitalization of $43.639 billion.
Artisan Mid Cap Fund stated the following regarding Lululemon Athletica Inc. (NASDAQ:LULU) in its first quarter 2024 investor letter: