Saturna Capital, an investment management firm, published its “Amana Funds” fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth quarter of 2021, the Amana Income Fund Investor Shares returned 13.76% and the Institutional Shares returned 13.85%. The Amana Growth Fund sprinted to a strong finish in the fourth quarter, wrapping up an outstanding year by any measure. For the three months ended December 31, 2021, the Amana Growth Fund Investor Shares returned 14.41%, significantly outpacing the 6.91% Morningstar “Large Growth” category return, as well as the 11.03% return of the S&P 500. For the 2021 calendar year, Amana Developing World Fund Investor Shares returned 7.31% versus -2.54% for the MSCI Emerging Markets Index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Saturna Capital Amana Funds, in its Q4 2021 investor letter, mentioned TPI Composites, Inc. (NASDAQ: TPIC) and discussed its stance on the firm. Founded in 1968, TPI Composites, Inc. is a Scottsdale, Arizona-based composite wind blades manufacturer with a $553.2 million market capitalization, and is currently spearheaded by its CEO, William Siwek. TPIC delivered a -0.53% return since the beginning of the year, while its 12-month returns are down by -70.26%. The stock closed at $14.88 per share on March 08, 2022.
Here is what Saturna Capital Amana Funds has to say about TPI Composites, Inc. in its Q4 2021 investor letter:
“For both the fourth quarter and the full year, the Fund’s largest detractors were not concentrated to any singular industry or area. The dispersion of these detractors across geographies shows how investing in emerging markets can be idiosyncratic. TPI Composites was the Fund’s largest detractor in the fourth quarter and for the full year. A maker of wind turbine blades, TPI was particularly hard-hit by commodity inflation and challenged supply chains, leading the company to recapitalize in the fourth quarter. While the company continues to face near-term headwinds, this recapitalization should support the company’s longterm position as a leading supplier to the world’s largest wind turbine manufacturers.”
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Our calculations show that TPI Composites, Inc. (NASDAQ: TPIC) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. TPIC was in 21 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 19 funds in the previous quarter. TPI Composites, Inc. (NASDAQ: TPIC) delivered a -14.58% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on TPIC in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
