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 Autohome Inc. (NYSE:ATHM) in the Q3 2022 investor letter. Headquartered in Beijing, the People’s Republic of China, Autohome Inc. (NYSE:ATHM) is an online automotive platform. On November 17, 2022, Autohome Inc. (NYSE:ATHM) stock closed at $29.53 per share. One-month return of Autohome Inc. (NYSE:ATHM) was 5.45%, and its shares lost 13.76% of their value over the last 52 weeks. Autohome Inc. (NYSE:ATHM) has a market capitalization of $3.991 billion.
Polen Capital made the following comment about Autohome Inc. (NYSE:ATHM) in its third-quarter 2022 investor letter:
“Autohome Inc. (NYSE:ATHM) is China’s leading online car classified company. The stock performed well in the second quarter; however, it has continued to be hindered by reaction to a combination of macro factors, irrespective of the actual direct impact. The company posted satisfactory quarterly revenues and earnings, which were below the same period last year. While earnings have softened as the global chip shortage weighed on new car sales, we expect the company to return to the earnings growth levels it has historically delivered. The share price weakness has left it trading at levels we consider very attractive.”
Autohome Inc. (NYSE:ATHM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Autohome Inc. (NYSE:ATHM) at the end of the third quarter, which was 17 in the previous quarter.
We discussed Autohome Inc. (NYSE:ATHM) in another article and shared Polen Capital’s views on the company in the previous quarter. 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.