Horos Asset Management, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. Since the inception of Horos (May 21, 2018), Horos Value Internacional has returned 22.3%, below the 55.2% gain of its benchmark, while Horos Value Iberia has returned 8.1%, outperforming the 0.5% return of its index. Moreover, since 2012, the returns of this management team stand at 199% for the international strategy and 167% for the Iberian strategy, compared to 219% and 67% in their benchmark indices, respectively. 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, Horos Asset Management mentioned AerCap Holdings N.V. (NYSE:AER) and explained its insights for the company. Founded in 1995, AerCap Holdings N.V. (NYSE:AER) is a Dublin, Ireland-based aircraft leasing company with a $10.0 billion market capitalization. AerCap Holdings N.V. (NYSE:AER) delivered a -37.69% return since the beginning of the year, while its 12-month returns are down by -22.36%. The stock closed at $40.76 per share on June 27, 2022.
Here is what Horos Asset Management has to say about AerCap Holdings N.V. (NYSE:AER) in its Q1 2022 investor letter:
“Subsequently, as Russian attacks in Ukraine have intensified and spread, the pressure through sanctions on Russia has been increasing, with measures ranging from freezing the assets of Russian oligarchs to the decision not to purchase certain commodities from this country.33 Obviously, the increasing and varied sanctions, the instability (for lack of a better word) in the Black Sea area, and even civic pressure, have generated an environment of uncertainty that is unbearable for many global companies, making it impossible for them to do business in Russia and Ukraine. Take, for example, the case of AerCap, the aircraft leasing company in which we have been shareholders for many years. Well, as a result of sanctions issued by the European Union and the United States, AerCap cannot accept payments from any Russian airline, so 5% of its fleet (in terms of net book value) has “suddenly” stopped generating revenue.”
Our calculations show that AerCap Holdings N.V. (NYSE:AER) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. AerCap Holdings N.V. (NYSE:AER) was in 40 hedge fund portfolios at the end of the first quarter of 2022, compared to 40 funds in the previous quarter. AerCap Holdings N.V. (NYSE:AER) delivered a -25.21% return in the past 3 months.
In May 2022, we also shared another hedge fund’s views on AerCap Holdings N.V. (NYSE:AER) 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.