Lakehouse Capital, an investment management company, released its “Lakehouse Global Growth Fund” October 2022 monthly letter. A copy of the same can be downloaded here. October was a busy month for the fund, and it returned 3.4% net of fees and expenses compared to a 6.6% return for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Lakehouse Capital discussed stocks like Visa Inc. (NYSE:V) in the October 2022 monthly letter. Headquartered in San Francisco, California, Visa Inc. (NYSE:V) is a global payment technology company. On November 14, 2022, Visa Inc. (NYSE:V) stock closed at $206.86 per share. One-month return of Visa Inc. (NYSE:V) was 10.52%, and its shares lost 3.87% of their value over the last 52 weeks. Visa Inc. (NYSE:V) has a market capitalization of $435.769 billion.
Lakehouse Capital made the following comment about Visa Inc. (NYSE:V) in its Q3 2022 investor letter:
“Visa Inc. (NYSE:V) continued its long run of steady growth with both net revenue and earnings per share increasing by 19% year-over-year. The company processed 61.9 billion transactions during the quarter, which drove US$2.9 trillion in total payments volume. The return of travel-related spend post-pandemic continues to be a tailwind for the business and it was pleasing to see cross-border volume growth maintain its recent momentum, up 49% year-over-year, excluding intra-Europe. Management also provided some positive commentary on the macro environment, which was reassuring, especially given the heightened recessionary fears at present. They highlighted stable trends that were relatively broad-based and emphasised stability in e-commerce and a general shift in spending away from goods toward services and experiences. Big picture, we remain long-term holders and believe that the combination of an attractive industry structure and the ongoing secular shift towards digital payments provides a strong foundation that will enable Visa to continue growing at attractive rates for many years to come.”
Visa Inc. (NYSE:V) is in 5th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 166 hedge fund portfolios held Visa Inc. (NYSE:V) at the end of the second quarter which was 159 in the previous quarter.
We discussed Visa Inc. (NYSE:V) in another article and shared the list of biggest ESG companies in the world. 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.
