Geopolitical Uncertainty Dragged Baidu (BIDU) in Q4

Baron Funds, an investment management company, released its “Baron Emerging Markets Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 8.58% (Institutional Shares), compared to a 9.70% return for its principal benchmark, the MSCI EM Index, and a 9.28% gain for the MSCI EM IMI Growth Index. In the year, the fund declined 25.82% compared to the MSCI EM Index’s 20.09% decline and the MSCI EM IMI Growth Index’s 23.88% decline. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Emerging Markets Fund highlighted stocks like Baidu, Inc. (NASDAQ:BIDU) in the Q4 2022 investor letter. Headquartered in Beijing, China, Baidu, Inc. (NASDAQ:BIDU) is an internet search service provider. On March 13, 2023, Baidu, Inc. (NASDAQ:BIDU) stock closed at $133.65 per share. One-month return of Baidu, Inc. (NASDAQ:BIDU) was -10.34%, and its shares gained 23.32% of their value over the last 52 weeks. Baidu, Inc. (NASDAQ:BIDU) has a market capitalization of $46.183 billion.

Baron Emerging Markets Fund made the following comment about Baidu, Inc. (NASDAQ:BIDU) in its Q4 2022 investor letter:

“Shares of Baidu, Inc. (NASDAQ:BIDU), a leading Chinese artificial intelligence company, fell in the fourth quarter due to geopolitical uncertainties and COVID[1]related lockdowns. We retain conviction that Baidu will deliver strong earnings growth over the next several years, driven by the secular growth in digital advertising, market share gains in cloud computing, continued progress in autonomous vehicle development, and improving operational efficiency.

Baidu Inc (ADR) (NASDAQ:BIDU), Icon, app, Symbol, Sign, logo, smarphone

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Baidu, Inc. (NASDAQ:BIDU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 40 hedge fund portfolios held Baidu, Inc. (NASDAQ:BIDU) at the end of the fourth quarter which was 43 in the previous quarter.

We discussed Baidu, Inc. (NASDAQ:BIDU) in another article and shared the list of best artificial intelligence stocks to buy according to analysts. 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.