Artisan Partners, an investment management company, released its “Artisan International Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTKX returned -9.90%, Advisor Class fund APDKX posted a return of -9.89%, and Institutional Class fund APHKX returned -9.86%, compared to a -9.36% return for the MSCI EAFE Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners highlighted stocks like Alibaba Group Holding Limited (NYSE:BABA) in the Q3 2022 investor letter. Headquartered in Hangzhou, the People’s Republic of China, Alibaba Group Holding Limited (NYSE:BABA) is a technology company. On November 15, 2022, Alibaba Group Holding Limited (NYSE:BABA) stock closed at $79.30 per share. One-month return of Alibaba Group Holding Limited (NYSE:BABA) was 11.27% and its shares lost 50.92% of their value over the last 52 weeks. Alibaba Group Holding Limited (NYSE:BABA) has a market capitalization of $213.384 billion.
Artisan Partners made the following comment about Alibaba Group Holding Limited (NYSE:BABA) in its Q3 2022 investor letter:
“Alibaba Group Holding Limited (NYSE:BABA)’s share price declined by 30% during the quarter and is down 34% year to date.During the quarter, the company reported results that highlighted a continued decline in profit resulting from the weak Chinese economy and increased competition. That said, the company did modestly improve its competitive positioning, continues to reduce costs, is generating significant free cash flow and buying stock. We believe the share price decline is divorced from valuation and due to geopolitical tensions, uncertainties about US listing, the existence of a large, forced seller, and a general aversion to Chinese equities. The shares are significantly undervalued, and we continue to buy more.”
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Alibaba Group Holding Limited (NYSE:BABA) is in 13th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held Alibaba Group Holding Limited (NYSE:BABA) at the end of the second quarter which was 100 in the previous quarter.
We discussed Alibaba Group Holding Limited (NYSE:BABA) in another article and shared Distillate Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.
