Investment management company Vulcan Value Partners recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The firm has five strategies, and all trailed their benchmark indexes in 2022. In the fourth quarter, the fund’s Large-Cap Composite returned 8.2% net of fees and expenses, the Small Cap Composite returned 11.2% net, Focus Composite returned 7.6% net, the Focus Plus composite returned 7.7%, and All Cap Composite returned 7.2% net. You can check the top 5 holdings of the fund to know its best picks in 2022.
Vulcan Value Partners highlighted stocks like Amazon.com, Inc. (NASDAQ:AMZN) in the fourth quarter investor letter. Headquartered in Seattle, Washington, Amazon.com, Inc. (NASDAQ:AMZN) provides consumer products and subscriptions. On February 9, 2023, Amazon.com, Inc. (NASDAQ:AMZN) stock closed at $98.24 per share. One-month return of Amazon.com, Inc. (NASDAQ:AMZN) was 3.12%, and its shares lost 38.22% of their value over the last 52 weeks. Amazon.com, Inc. (NASDAQ:AMZN) has a market capitalization of $1.007 trillion.
Vulcan Value Partners made the following comment about Amazon.com, Inc. (NASDAQ:AMZN) in its Q4 2022 investor letter:
“Amazon.com, Inc. (NASDAQ:AMZN) was the only material detractor during the quarter. The company’s results have been negatively impacted by over-investment during the pandemic combined with slowing economic growth. We are encouraged that management is taking steps to better align costs with revenues, especially in its Retail segment. We expect growth in its three core businesses of AWS, Advertising, and Retail to be challenged in the short run. However, we believe that the long-term drivers of the company’s success are firmly intact. Cloud infrastructure growth should continue, and AWS has a significant scale-based competitive advantage in this business. Amazon’s closed-loop advertising at the point of sale offers a compelling return on investment. E-Commerce should continue to grow, and Amazon should continue to be the leader driven by its Prime membership base.”
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Amazon.com, Inc. (NASDAQ:AMZN) is in 2nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 269 hedge fund portfolios held Amazon.com, Inc. (NASDAQ:AMZN) at the end of the third quarter, which was 252 in the previous quarter.
We discussed Amazon.com, Inc. (NASDAQ:AMZN) in another article and shared RGA Investment Advisors’ views on the company. 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.
