Polen Capital, an investment management company, released its “Polen Global Emerging Markets Growth” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund returned -9.94% net of fees compared to a -11.57% return for the MSCI Emerging Markets Index. Global economic uncertainty dragged the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital discussed stocks like Alibaba Group Holding Limited (NYSE:BABA) in the 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 17, 2022, Alibaba Group Holding Limited (NYSE:BABA) stock closed at $84.26 per share. One-month return of Alibaba Group Holding Limited (NYSE:BABA) was 17.00% and its shares lost 41.32% of their value over the last 52 weeks. Alibaba Group Holding Limited (NYSE:BABA) has a market capitalization of $218.183 billion.
Polen Capital made the following comment about Alibaba Group Holding Limited (NYSE:BABA) in its October investor letter:
“Alibaba Group Holding Limited (NYSE:BABA) is the leading e-commerce company in China. The stock was weak over the quarter as they reported a quarterly revenue decline. The company has been heavily impacted by the continued covid-19 lockdowns throughout China and the aggressive rate increases and deteriorating outlook for China’s economy have weighed heavily on the stock. The share price has also been under pressure due to the U.S. Securities and Exchange Commission’s plans to delist Chinese tech stocks in 2024 if they do not provide access to audit files.”
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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, 105 hedge fund portfolios held Alibaba Group Holding Limited (NYSE:BABA) at the end of the third quarter, which was 106 in the previous quarter.
We discussed Alibaba Group Holding Limited (NYSE:BABA) in another article and shared Distillate Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.