Artisan Partners, an investment management company, released its “Artisan International Value Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTKX returned -10.47%, Advisor Class fund APDKX posted a return of -10.42%, and Institutional Class fund APHKX returned -10.41%, compared to a return of -14.51% for the MSCI EAFE Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like Trip.com Group Limited (NASDAQ:TCOM) in the second quarter investor letter. Headquartered in Shanghai, the People’s Republic of China, Trip.com Group Limited (NASDAQ:TCOM) is travel services providing company. On September 26, 2022, Trip.com Group Limited (NASDAQ:TCOM) stock closed at $27.37 per share. One-month return of Trip.com Group Limited (NASDAQ:TCOM) was 7.25% and its shares lost 8.80% of their value over the last 52 weeks. Trip.com Group Limited (NASDAQ:TCOM) has a market capitalization of $17.805 billion.
Here is what Artisan Partners specifically said about Trip.com Group Limited (NASDAQ:TCOM) in its Q2 2022 investor letter:
“Trip.com Group Limited (NASDAQ:TCOM) is China’s leading online travel agent or OTA. Prior to the pandemic, Trip.com was a profitable business with a large competitive advantage built around its position in both inbound and outbound international travel. That advantage was based on considerable investment in support centers, a large sales force outside of China focused on hotel supply agreements, partnerships with Chinese language tour providers, and other services to support the Chinese traveler. Trip.com was a healthy and growing business—the number of Chinese outbound tourists grew to 155 million (larger than the population of Japan) in 2019 from just 57 million in 2010. As it did with so many travel entities, the pandemic upended the business, and Chinese outbound tourists in 2021 fell to just under 26 million, devastating the company’s profits and the share price, which fell from the high 30s to the low 20s.
Generally speaking, OTAs are great businesses. Effectively, these companies take a commission for booking travel for providers. In addition, an OTAs app attracts advertising revenue from airlines, hotels, and other tourist destinations. Trip.com’s appeal is enhanced by a management team thoughtful enough to operate with significant net cash on the balance sheet.”
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Trip.com Group Limited (NASDAQ:TCOM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held Trip.com Group Limited (NASDAQ:TCOM) at the end of the second quarter which was 32 in the previous quarter.
We discussed Trip.com Group Limited (NASDAQ:TCOM) in another article and shared the list of cheap stocks to buy according to billionaire Ken Fisher. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.