Polen Capital, an investment management firm, published its “Polen Global Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. During the first quarter of 2022, the Polen Global Growth Composite Portfolio (the “Portfolio) was down -13.30% and -13.54%, gross and net of fees, versus a decline of -5.35% for the MSCI ACWI (the “Index”). Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Polen Global Growth Fund mentioned Microsoft Corporation (NASDAQ:MSFT) and explained its insights for the company. Founded in 1975, Microsoft Corporation (NASDAQ:MSFT) is an Albuquerque, New Mexico-based technology company with a $2.03 trillion market capitalization. Microsoft Corporation (NASDAQ:MSFT) delivered a -18.98% return since the beginning of the year, while its 12-month returns are up by 7.46%. The stock closed at $272.50 per share on June 07, 2022.
Here is what Polen Global Growth Fund has to say about Microsoft Corporation (NASDAQ:MSFT) in its Q1 2022 investor letter:
“Microsoft’s business is firing on all cylinders and continue to enjoy an acceleration in their respective fundamentals because of the increase in digitization around the world. Nearly every company today is searching for ways to become more digital, and both Microsoft and Accenture are positioned to provide many of the solutions these companies seek. This inflection in fundamentals was not lost on the market, and each business’s stock performed exceptionally well in 2021. In fact, they represented two of the three top absolute performers for the Global Growth Portfolio last year. As a result, their respective stocks are currently more fully priced. As such, we lowered Microsoft from our largest position within the Portfolio. We maintain high conviction in Microsoft and plan to own it for many years, but recognize the increase in its prices.”
Our calculations show that Microsoft Corporation (NASDAQ:MSFT) ranks 2nd it on our list of the 30 Most Popular Stocks Among Hedge Funds. Microsoft Corporation (NASDAQ:MSFT) was in 259 hedge fund portfolios at the end of the first quarter of 2022, compared to 262 funds in the previous quarter. Microsoft Corporation (NASDAQ:MSFT) delivered a -5.55% return in the past 3 months.
Earlier this month, we published an article that includes Microsoft Corporation (NASDAQ:MSFT) in the 10 Undervalued Blue Chip Stocks to Buy Now. 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.