Madison Funds, managed by Madison Investment Management, released its “Madison Sustainable Equity Fund” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund returned 7% compared to a 7.56% return for the S&P 500 Index. In the quarter, sector allocation was negative while the stock selection was positive. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Madison Funds highlighted stocks like The Walt Disney Company (NYSE:DIS) in its Q4 2022 investor letter. Based in Burbank, California, The Walt Disney Company (NYSE:DIS) is an entertainment company. On January 13, 2023, The Walt Disney Company (NYSE:DIS) stock closed at $99.40 per share. One-month return of The Walt Disney Company (NYSE:DIS) was 10.35%, and its shares lost 34.58% of their value over the last 52 weeks. The Walt Disney Company (NYSE:DIS) has a market capitalization of $181.265 billion.
Madison Funds made the following comment about The Walt Disney Company (NYSE:DIS) in its fourth-quarter 2022 investor letter:
“The Walt Disney Company (NYSE:DIS) reported a disappointing fourth quarter with revenue and earnings below consensus which was followed by the board replacing then-CEO Bob Chapek and the return of Bob Iger as CEO. Parks remained a bright spot while losses at direct-to-consumer increased and linear networks continued to be challenged by cord cutting.”
The Walt Disney Company (NYSE:DIS) is in 12th position on our 30 Most Popular Stocks Among Hedge Funds list. As per our database, 112 hedge fund portfolios held The Walt Disney Company (NYSE:DIS) at the end of the third quarter, and 109 in the previous quarter.
We discussed The Walt Disney Company (NYSE:DIS) in another article and shared the most influential companies to invest in. In addition, please check out our hedge fund investor letters Q4 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.