Oakmark Funds, an investment management firm, published its “Oakmark Global Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Oakmark Global Fund declined by 5.53% for the quarter ended March 31, 2022, compared to a decline of 5.15% for the MSCI World Index and a decline of 8.23% for the Lipper Global Fund Index. Since its inception in 1999, the Fund has achieved a compound annual rate of return of 9.89%, which compares to 6.03% for the MSCI World Index and 6.13% for the Lipper Global Fund Index. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Oakmark Global Fund mentioned General Motors Company (NYSE:GM) and explained its insights into the company. Founded in 1908, General Motors Company (NYSE:GM) is a Detroit, Michigan-based multinational automotive manufacturing corporation with a $56.6 billion market capitalization. General Motors Company (NYSE:GM) delivered a -33.23% return since the beginning of the year, while its 12-month returns are down by -32.75%. The stock closed at $39.13 per share on April 22, 2022.
Here is what Oakmark Global Fund has to say about General Motors Company (NYSE:GM) in its Q1 2022 investor letter:
“General Motors (NYSE:GM) was a detractor during the quarter, due to increased macro uncertainty, higher fuel prices, and concerns over rising input costs, which pressured the company in particular and the auto industry as a whole. While we are closely monitoring the potential impact of these dynamics, industry demand remains robust, driven by strong consumer balance sheets and pent-up demand after multiple years of constrained production. We also remain confident in GM’s ability to navigate a complex operating environment, which the company has consistently demonstrated over the past few years. Finally, the long-term picture remains bright. We believe GM is significantly undervalued, is well-positioned for the long-term transition to electric vehicles and has numerous needle-moving ancillary business opportunities (most notably Cruise, which is an industry leader in autonomous vehicle technology) that are underappreciated.”
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Our calculations show that General Motors Company (NYSE:GM) ranks 28th on our list of the 30 Most Popular Stocks Among Hedge Funds. General Motors Company (NYSE:GM) was in 90 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 77 funds in the previous quarter. General Motors Company (NYSE:GM) delivered a -25.64% return in the past 3 months.
In February 2022, we also shared another hedge fund’s views on General Motors Company (NYSE:GM) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
