Harding Loevner, an asset management company, released its “Emerging Markets Equity Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -10.19% net of fees compared to a -11.42% decline for the MSCI Emerging Markets Index. Strategy’s outperformance in the quarter was attributed to positive stock selection in Consumer Discretionary, Information Technology, and Financials sectors and overweight exposure to Latin America. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Harding Loevner highlighted stocks like Trip.com Group Limited (NASDAQ:TCOM) in its Q3 2022 investor letter. Headquartered in Shanghai, the People’s Republic of China., Trip.com Group Limited (NASDAQ:TCOM) is a travel service provider. On December 12, 2022, Trip.com Group Limited (NASDAQ:TCOM) stock closed at $33.15 per share. One-month return of Trip.com Group Limited (NASDAQ:TCOM) was 13.22%, and its shares gained 32.65% of their value over the last 52 weeks. Trip.com Group Limited (NASDAQ:TCOM) has a market capitalization of $22.465 billion.
Harding Loevner made the following comment about Trip.com Group Limited (NASDAQ:TCOM) in its Q3 2022 investor letter:
“Our other new Chinese holding is a familiar one: Trip.com Group Limited (NASDAQ:TCOM) , which we’ve previously held, is responsible for half of China’s online travel bookings. Among its more than 50,000 travel partners are many upscale hotels, and this abundance of choice continues to attract a vast user base. Trip.com’s international footprint has broadened through its subsidiary Skyscanner, a UK platform, and a partnership with TripAdvisor of the US. The company’s leadership has experience successfully guiding the business through highly competitive conditions. Increasing travel demand in a post-COVID-19 world opens the door to accelerated growth.”
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Trip.com Group Limited (NASDAQ:TCOM) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 42 hedge fund portfolios held Trip.com Group Limited (NASDAQ:TCOM) at the end of the third quarter, which was 34 in the previous quarter.
We discussed Trip.com Group Limited (NASDAQ:TCOM) in another article and shared the best Asian stocks to buy heading into 2023. 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.
