Harding Loevner, an investment management firm, published its “Global Equity Fund” first-quarter 2022 investor letter – a copy of which can be downloaded here. The Global Equity Composite fell 12.4% gross of fees, well beyond the 5.3% decline of the MSCI All Country World Index. The portfolio’s concentration in expensive stocks, a hazard of its commitment to investing in the stocks of high-quality rapidly growing businesses, hurt relative performance in a quarter during which investors fled from richly priced companies. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Harding Loevner Global Equity Fund mentioned The Walt Disney Company (NYSE:DIS) and explained its insights for the company. Founded in 1923, The Walt Disney Company (NYSE:DIS) is a Burbank, California-based multinational mass media and entertainment conglomerate with a $169.9 billion market capitalization. The Walt Disney Company (NYSE:DIS) delivered a -39.77% return since the beginning of the year, while its 12-month returns are down by -46.38%. The stock closed at $93.29 per share on June 21, 2022.
Here is what Harding Loevner Global Equity Fund has to say about The Walt Disney Company (NYSE:DIS) in its Q1 2022 investor letter:
“The war in Ukraine has given new urgency to the question of whether globalization has reached a tipping point and if the familiar web of decentralized, just-in-time, global supply chains will be a casualty of the inward turn dividing countries into competing trading blocs. It is probably too soon to know. We sold Disney (NYSE:DIS), due to some concerns about the increasing capital intensity of its business amid signs of rising competition and slowing growth in streaming media consumption.”
Our calculations show that The Walt Disney Company (NYSE:DIS) ranks 11th on our list of the 30 Most Popular Stocks Among Hedge Funds. The Walt Disney Company (NYSE:DIS) was in 113 hedge fund portfolios at the end of the first quarter of 2022, compared to 111 funds in the previous quarter. The Walt Disney Company (NYSE:DIS) delivered a -32.70% return in the past 3 months.
In April 2022, we also shared another hedge fund’s views on The Walt Disney Company (NYSE:DIS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.