Sea Limited (SE) Declined on Investor Concerns Over E-Commerce Competition

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund (Investor Class) returned 1.91% compared to 0.90% for the MSCI Emerging Markets Index. The fund has returned 88.68% cumulatively since June 30, 2015, compared to a 23.33% return for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Artisan Developing World Fund highlighted stocks like Sea Limited (NYSE:SE) in the second quarter 2023 investor letter. Headquartered in Singapore, Sea Limited (NYSE:SE) is an internet and mobile platform company that engages in digital entertainment, e-commerce, and digital financial service businesses. On July 10, 2023, Sea Limited (NYSE:SE) stock closed at $58.04 per share. One-month return of Sea Limited (NYSE:SE) was -11.66%, and its shares lost 19.96% of their value over the last 52 weeks. Sea Limited (NYSE:SE) has a market capitalization of $33.011 billion.

Artisan Developing World Fund made the following comment about Sea Limited (NYSE:SE) in its second quarter 2023 investor letter:

“Bottom contributors to performance for the quarter included Southeast Asian Internet leader Sea Limited (NYSE:SE). Sea declined due to rising investor concerns around e-commerce competition from TikTok in Southeast Asia during a period of subdued gross merchandise value growth, while the gaming business continues to struggle.”

Sea Limited (NYSE:SE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 65 hedge fund portfolios held Sea Limited (NYSE:SE) at the end of first quarter which was 48 in the previous quarter.

We discussed Sea Limited (NYSE:SE) in another article and shared the list of best esports stocks to buy. In addition, please check out our hedge fund investor letters Q2 2023 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.