CA - Artisan Small Cap Fund Q2 2024 Commentary
2024-07-31 23:00:00 ET
Summary
- Our portfolio generated a negative absolute return and underperformed the Russell 2000® Growth Index in Q2.
- Extremely strong returns by two sector constituents, Super Micro Computer and MicroStrategy, contributed 257bps (58%) to the index’s return.
- Among our top detractors for the quarter were Lattice Semiconductor and Iovance Biotherapeutics.
- During the quarter, we initiated new GardenSM positions in Insmedand Vita Coco.
Investment Results(%) as of 30 June 2024
Average Annual Total Returns |
QTD |
YTD |
1YR |
3YR |
5YR |
10YR |
Inception |
Investor Class: ARTSX |
-4.45 |
4.56 |
5.05 |
-9.51 |
4.77 |
8.93 |
8.91 |
Advisor Class: APDSX |
-4.40 |
4.60 |
5.19 |
-9.38 |
4.91 |
9.04 |
8.95 |
Institutional Class: APHSX |
-4.38 |
4.68 |
5.28 |
-9.30 |
5.02 |
9.17 |
9.01 |
Russell 2000® Growth Index |
-2.92 |
4.44 |
9.14 |
-4.86 |
6.17 |
7.39 |
7.55 |
Russell 2000® Index |
-3.28 |
1.73 |
10.06 |
-2.58 |
6.94 |
7.00 |
8.76 |
| Source: Artisan Partners/Russell. Returns for periods less than one year are not annualized. Class inception: Investor (28 March 1995); Advisor (1 February 2017); Institutional (7 May 2012). For the period prior to inception, each of Advisor Class and Institutional Class’s performance is the Investor Class’s return for that period (“Linked Performance”). Linked Performance has not been restated to reflect expenses of the Advisor or Institutional Class and each share’s respective returns during that period would be different if such expenses were reflected. |