Saturna Capital, an investment management firm, published its “Amana Funds” third-quarter 2021 investor letter – a copy of which can be downloaded here. For the third quarter of 2021, the Amana Income Fund Investor Shares returned -2.54% and the Institutional Shares returned -2.50%. The Amana Growth Fund Investor Shares returned 0.95%, ahead of the 0.58% return of the S&P 500 Index, as well as the NASDAQ Composite return of -0.22% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Saturna Capital Amana Funds, in its Q3 2021 investor letter, mentioned Alphabet Inc. (NASDAQ: GOOG) and discussed its stance on the firm. Alphabet Inc. is a Mountain View, California-based multinational technology conglomerate holding company with a $1.9 trillion market capitalization. GOOG delivered a 69.00% return since the beginning of the year, while its 12-month returns are up by 62.81%. The stock closed at $2,960.73 per share on December 07, 2021.
Here is what Saturna Capital Amana Funds has to say about Alphabet Inc. in its Q3 2021 investor letter:
“Alphabet was a new addition to the Fund this year, as we believed it important to have exposure to the top online media and advertising company in the world. Some have raised concerns surrounding Alphabet’s exposure to political interference, but we take comfort from the belief that were the company to be broken up, it would quite likely be worth even more than as a single entity.”
Based on our calculations, Alphabet Inc. (NASDAQ: GOOG) ranks 5th in our list of the 30 Most Popular Stocks Among Hedge Funds. GOOG was in 156 hedge fund portfolios at the end of the third quarter of 2021, compared to 155 funds in the previous quarter. Alphabet Inc. (NASDAQ: GOOG) delivered a 1.73% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.