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Artisan Partners, an investment management company, released its “Artisan Global Discovery Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. In the fourth quarter, the fund’s Investor Class APFDX returned 2.65%, Advisor Class APDDX posted a return of 2.69% and Institutional Class APHDX returned 2.76%, compared to a -0.99% return for the MSCI All Country World Index. US stocks ended a strong year with strong gains in Q4. The portfolio outperformed the index in both Q4 and 2024. Strong stock selection drove the portfolio’s performance in Q4. In addition, please check the fund’s top five holdings to know its best picks in 2024.
In its fourth quarter 2024 investor letter, Artisan Global Discovery Fund emphasized stocks such as MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI). MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) manufactures analog semiconductor solutions for wireless and wireline applications across the radio frequency (RF), microwave, millimeter wave, and light wave spectrum. The one-month return MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) was -1.00%, and its shares gained 3.09% of their value over the last 52 weeks. On April 2, 2025, MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) stock closed at $103.78 per share with a market capitalization of $7.715 billion.
Artisan Global Discovery Fund stated the following regarding MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) in its Q4 2024 investor letter:
"Among our top Q4 contributors were MACOM Technology Solutions Holdings, Inc. (NASDAQ:MTSI) and Galderma. MACOM Technology Solutions designs and manufactures high-performance semiconductors. The company’s relatively new management team is taking steps to accelerate top-line growth and expand margins by addressing smaller, long-duration product cycle markets in which it can provide a differentiated offering, especially in compound semis (those made from two or more elements). Shares have outperformed due to steady growth of data center and defense end markets. As a member of the US Department of Defense’s trusted foundry program, MACOM is a trusted manufacturer of US military and aerospace applications and offers a comprehensive portfolio of products that support the demanding performance requirements of today’s aerospace and defense systems. Meanwhile, we believe the more cyclical areas of the business within industrial and telecommunications are not far from a recovery phase that will provide meaningful earnings upside in the years to come. After the period of strong performance, we trimmed the position."