Saturna Capital, an investment management firm, published its “Amana Funds” fourth-quarter 2021 investor letter – a copy of which can be downloaded here. For the fourth quarter of 2021, the Amana Income Fund Investor Shares returned 13.76% and the Institutional Shares returned 13.85%. The Amana Growth Fund sprinted to a strong finish in the fourth quarter, wrapping up an outstanding year by any measure. For the three months ended December 31, 2021, the Amana Growth Fund Investor Shares returned 14.41%, significantly outpacing the 6.91% Morningstar “Large Growth” category return, as well as the 11.03% return of the S&P 500. For the 2021 calendar year, Amana Developing World Fund Investor Shares returned 7.31% versus -2.54% for the MSCI Emerging Markets Index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Saturna Capital Amana Funds, in its Q4 2021 investor letter, mentioned PepsiCo, Inc. (NYSE: PEP) and discussed its stance on the firm. Founded in 1965, PepsiCo, Inc. is a Harrison, New York-based food company with a $218.4 billion market capitalization, and is currently spearheaded by its CEO, Ramon Laguarta. PEP delivered a -9.12% return since the beginning of the year, while its 12-month returns are up by 18.18%. The stock closed at $157.87 per share on March 08, 2022.
Here is what Saturna Capital Amana Funds has to say about PepsiCo, Inc. in its Q4 2021 investor letter:
“Given the likelihood of rising inflation and interest rates ahead, we anticipate adjustments to the portfolio to reduce exposure to highly valued stocks dependent on low interest rates to support terminal year valuations, while seeking investments in companies more correlated with a return to economic normalcy. We sold our positions in Pepsi. We believe Pepsi to be a well-run firm, but its products are not in keeping with an ESG mandate. Additionally, it has entered a joint venture to produce and distribute alcoholic beverages, making it ineligible for the portfolio.”
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Our calculations show that PepsiCo, Inc. (NYSE: PEP) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. PEP was in 60 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 61 funds in the previous quarter. PepsiCo, Inc. (NYSE: PEP) delivered a -5.19% return in the past 3 months.
In February 2022, we published an article that includes PEP in the 10 Best Dividend Stocks to Buy According to Kahn Brothers. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
