Reasons for the Decline of Bilibili (BILI) in Q2
Artisan Partners, an investment management company, released its “Artisan Developing World Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund (Investor Class) returned 1.91% compared to 0.90% for the MSCI Emerging Markets Index. The fund has returned 88.68% cumulatively since June 30, 2015, compared to a 23.33% return 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 Bilibili Inc. (NASDAQ:BILI) in the second quarter 2023 investor letter. Headquartered in Shanghai, the People's Republic of China, Bilibili Inc. (NASDAQ:BILI) is an online entertainment services provider. On July 10, 2023, Bilibili Inc. (NASDAQ:BILI) stock closed at $14.89 per share. One-month return of Bilibili Inc. (NASDAQ:BILI) was -11.74%, and its shares lost 38.60% of their value over the last 52 weeks. Bilibili Inc. (NASDAQ:BILI) has a market capitalization of $6.115 billion.
Artisan Developing World Fund made the following comment about Bilibili Inc. (NASDAQ:BILI) in its second quarter 2023 investor letter:
"Bottom contributors to performance for the quarter included Chinese video streaming platform Bilibili Inc. (NASDAQ:BILI). Bilibili fell after reported gaming revenue decay in legacy titles and an underwhelming advertising recovery, though cost-cutting measures and balance sheet optimization have been visible."
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Bilibili Inc. (NASDAQ:BILI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Bilibili Inc. (NASDAQ:BILI) at the end of first quarter which was 15 in the previous quarter.
We discussed Bilibili Inc. (NASDAQ:BILI) in another article and shared the list of most promising mid-cap stocks according to analysts. In addition, please check out our hedge fund investor letters Q2 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.
