Baron Funds, an investment management company, released its “Baron Emerging Markets Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 11.30% (Institutional Shares), compared to an 11.57% decline for its principal benchmark, the MSCI EM Index. Global weakness in equities and bonds affected the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Funds discussed stocks like Alibaba Group Holding Limited (NYSE:BABA) in its Q3 2022 investor letter. Headquartered in Hangzhou, the People’s Republic of China, Alibaba Group Holding Limited (NYSE:BABA) is a technology company. On November 1, 2022, Alibaba Group Holding Limited (NYSE:BABA) stock closed at $65.86 per share. One-month return of Alibaba Group Holding Limited (NYSE:BABA) was -21.96% and its shares lost 60.38% of their value over the last 52 weeks. Alibaba Group Holding Limited (NYSE:BABA) has a market capitalization of $174.367 billion.
Baron Funds made the following comment about Alibaba Group Holding Limited (NYSE:BABA) in its Q3 2022 investor letter:
“Alibaba Group Holding Limited (NYSE:BABA) is the largest retailer and e-commerce company in China. Alibaba operates shopping platforms Taobao and Tmall and owns 33% of Ant Group, which operates Alipay, China’s largest third party online payment provider. Shares of Alibaba declined this quarter given macroeconomic weakness across the company’s business units. Longer term, we retain conviction that Alibaba will benefit from an improving macroeconomic environment and the ongoing growth in online commerce in China.”
Pieter Beens / Shutterstock.com
Alibaba Group Holding Limited (NYSE:BABA) is in 13th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held Alibaba Group Holding Limited (NYSE:BABA) at the end of the second quarter which was 100 in the previous quarter.
We discussed Alibaba Group Holding Limited (NYSE:BABA) in another article and largest IPOs of all time. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 9 Biggest Car Rental Companies in the World
- 10 Best November Dividend Stocks
- 15 Best Large Cap Dividend Growth Stocks To Buy
Disclosure: None. This article is originally published at Insider Monkey.