Here’s Why Suncor Energy (SU) Outperformed in Q4

Artisan Partners, an investment management company, released its “Artisan International Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund ARTKX returned 18.96%, Advisor Class fund APDKX posted a return of 19.00%, and Institutional Class fund APHKX returned 19.01%, compared to a return of 17.34% for the MSCI EAFE Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan International Value Fund highlighted stocks like Suncor Energy Inc. (NYSE:SU) in its Q4 2022 investor letter. Headquartered in Calgary, Canada, Suncor Energy Inc. (NYSE:SU) is an energy company. On March 10, 2023, Suncor Energy Inc. (NYSE:SU) stock closed at $33.44 per share. One-month return of Suncor Energy Inc. (NYSE:SU) was -2.42%, and its shares gained 8.82% of their value over the last 52 weeks. Suncor Energy Inc. (NYSE:SU) has a market capitalization of $44.387 billion.

Artisan International Value Fund made the following comment about Suncor Energy Inc. (NYSE:SU) in its Q4 2022 investor letter:

“Suncor Energy Inc. (NYSE:SU), a Canada-based operator of oil sands mines, refineries and retail gas stations, was the third-largest contributor to return for the year, mainly due to higher oil prices. The share price increased by one third. Notably, the portfolio generated significant returns from energy stocks, including Suncor, Tenaris, Imperial Oil and tangentially Alimentation Couche-Tarde and Seven & i Holdings, both of which are in the gas station business. Given the cyclicality and commodity nature of the oil business, we have sold shares of these investments, including the complete sale of both Tenaris and Imperial Oil.”

Photo by Max Bender on Unsplash

Suncor Energy Inc. (NYSE:SU) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Suncor Energy Inc. (NYSE:SU) at the end of the fourth quarter which was 45 in the previous quarter.

We discussed Suncor Energy Inc. (NYSE:SU) in another article and shared the list of most profitable Canadian stocks. 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.