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Here’s Why Airbnb (ABNB) Outperformed in Q1

Soumya Eswaran
·2 分鐘文章

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund (Investor Class) returned 22.64% compared to 3.96% for the MSCI Emerging Markets Index. The fund has returned 85.15% cumulatively since June 30, 2015, compared to 22.24% for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Developing World Fund highlighted stocks like Airbnb, Inc. (NASDAQ:ABNB) in the first quarter 2023 investor letter. Headquartered in San Francisco, California, Airbnb, Inc. (NASDAQ:ABNB) provides a platform to enable hosts to offer stays and experiences to guests. On April 18, 2023, Airbnb, Inc. (NASDAQ:ABNB) stock closed at $119.19 per share. One-month return of Airbnb, Inc. (NASDAQ:ABNB) was -1.63%, and its shares lost 27.57% of their value over the last 52 weeks. Airbnb, Inc. (NASDAQ:ABNB) has a market capitalization of $75.248 billion.

Artisan Developing World Fund made the following comment about Airbnb, Inc. (NASDAQ:ABNB) in its Q1 2023 investor letter:

"Top contributors to performance for the quarter included online travel marketplace Airbnb, Inc. (NASDAQ:ABNB). Airbnb outperformed on the resilience of the travel category including for long-term stays, and on operating leverage as cost optimization is met with revenue increases. Notably, our top four holdings entering the quarter (Sea, Meli, Nvidia, Airbnb) which represented 24.37% of capital on December 31, 2022, increased an average of 64.42% during the quarter."

Dragon Images/Shutterstock.com

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Airbnb, Inc. (NASDAQ:ABNB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 54 hedge fund portfolios held Airbnb, Inc. (NASDAQ:ABNB) at the end of the fourth quarter which was 58 in the previous quarter.

We discussed Airbnb, Inc. (NASDAQ:ABNB) in another article and shared the list of best cyclical stocks to buy. In addition, please check out our hedge fund investor letters Q1 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.