Sea Limited (SE) Declined on Investors’ Concerns

Artisan Partners, an investment management company, released its “Artisan Developing World Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund (Investor Class) returned -7.31% compared to -2.93% for the MSCI Emerging Markets Index. The fund has returned 74.89% cumulatively since June 30, 2015, compared to a 19.73% 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 third quarter 2023 investor letter. Headquartered in Singapore, Sea Limited (NYSE:SE) engages in digital entertainment, e-commerce, and digital financial service businesses. On October 11, 2023, Sea Limited (NYSE:SE) stock closed at $44.39 per share. One-month return of Sea Limited (NYSE:SE) was 11.28%, and its shares lost 18.48% of their value over the last 52 weeks. Sea Limited (NYSE:SE) has a market capitalization of $25.247 billion.

Artisan Developing World Fund made the following comment about Sea Limited (NYSE:SE) in its Q3 2023 investor letter:

“Bottom contributors to performance for the quarter included Southeast Asian e-commerce and gaming platform company Sea Limited (NYSE:SE). Sea declined after announcing its ambition to pivot back toward growth, causing investors to question its profitability trajectory and competitive position; Sea benefited late in the quarter from favorable regulatory developments in key market Indonesia that may impede competition from TikTok.”

A customer using their phone to access an online commerce platform. Editorial photo for a financial news article. 8k. –ar 16:9

Sea Limited (NYSE:SE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 62 hedge fund portfolios held Sea Limited (NYSE:SE) at the end of the second quarter, which was 65 in the previous quarter.

We discussed Sea Limited (NYSE:SE) in another article and shared the list of best aggressive growth stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q3 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.