Polen Capital, an investment management firm, published its “Polen Global Growth Fund” second quarter 2022 investor letter – a copy of which can be downloaded here. During the second quarter of 2022, the Global Growth Composite Portfolio (the “Portfolio”) was down -18.08% and -18.34% gross and net of fees, respectively, versus a decline of -15.65% for the MSCI ACWI (the “Index”). Since inception, the Portfolio has compounded at an annualized rate of 11.04% and 10.12%, gross and net of fees, versus 6.88% for the Index. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.
In its Q2 2022 investor letter, Polen Global Growth mentioned Amazon.com, Inc. (NASDAQ:AMZN) and explained its insights for the company. Founded in 1994, Amazon.com, Inc. (NASDAQ:AMZN) is a Seattle, Washington-based multinational technology company with a $1.2 trillion market capitalization. Amazon.com, Inc. (NASDAQ:AMZN) delivered a -27.45% return since the beginning of the year, while its 12-month returns are down by -25.84%. The stock closed at $120.95 per share on October 06, 2022.
Here is what Polen Global Growth has to say about Amazon.com, Inc. (NASDAQ:AMZN) in its Q2 2022 investor letter:
“Shares of Amazon declined during the quarter against a backdrop of very tough comparisons, ongoing cost pressures, and a bolus in capital expenditures. We believe some of these issues are transitory, and we used this quarter as an opportunity to add to our position in this competitively advantaged company at what we believe is a compelling valuation. We detail our thoughts further in the Portfolio Activity section.”
daniel-eledut-a8KNFpidIPI-unsplash (1)
Our calculations show that Amazon.com, Inc. (NASDAQ:AMZN) ranks 2nd on our list of the 30 Most Popular Stocks Among Hedge Funds. Amazon.com, Inc. (NASDAQ:AMZN) was in 252 hedge fund portfolios at the end of the second quarter of 2022, compared to 271 funds in the previous quarter. Amazon.com, Inc. (NASDAQ:AMZN) delivered a 5.79% return in the past 3 months.
In October 2022, we also shared another hedge fund’s views on Amazon.com, Inc. (NASDAQ:AMZN) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.
Suggested Articles:
- Top 10 Data Center Companies In the US
- Biggest Asset Management Companies In The World
- 11 Best Dividend Stocks Under $50
Disclosure: None. This article is originally published at Insider Monkey.