VGI Partners Global Investments Limited, an investment management company, released its 2022 annual investor letter. A copy of the same can be downloaded here. The firm returned -22.3% (net) for the year ended 31st December 2022. 2022 was a challenging year for the global equity market, the S&P 500 declined -19% during the period, the NASDAQ Composite retreated -33%, and the MSCI World Index fell -19% in the same period. In addition, please check the fund’s top five holdings to know its best picks in 2022.
VGI Partners highlighted stocks like Schlumberger Limited (NYSE:SLB) in the 2022 annual investor letter. Headquartered in Houston, Texas, Schlumberger Limited (NYSE:SLB) is an oil fields services company. On April 3, 2023, Schlumberger Limited (NYSE:SLB) stock closed at $52.33 per share. One-month return of Schlumberger Limited (NYSE:SLB) was -3.16%, and its shares gained 29.34% of their value over the last 52 weeks. Schlumberger Limited (NYSE:SLB) has a market capitalization of $74.706 billion.
VGI Partners made the following comment about Schlumberger Limited (NYSE:SLB) in its 2022 annual investor letter:
“In addition to defence, we have focused our efforts on other new sectors where we see structural growth, including energy and medical technology. The long-term outlook for energy looks highly attractive given many years of under-investment and more recently amplified by ESG constraints and corporate discipline. Although we reviewed commodity owners (where we leveraged the expertise of the Regal resources team), we focused our efforts on the second derivative – the oil service companies. These are the picks-and-shovels of the industry and arguably the highest-quality way to gain exposure. As a result, we invested in Schlumberger Limited (NYSE:SLB) earlier this year and grew this to a circa 8% weight during the year (now circa 3%)”
Schlumberger Limited (NYSE:SLB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Schlumberger Limited (NYSE:SLB) at the end of the fourth quarter which was 63 in the previous quarter.
We discussed Schlumberger Limited (NYSE:SLB) in another article and shared the list of best crude oil stocks to buy as tensions rise. 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.
