SolarEdge (SEDG) is One of Richie Capital’s Top Q1 2022 Performers

Richie Capital Group, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. A quarterly portfolio return of -8.4% was recorded by the RCG Long Only strategy for the first quarter of 2022, while the RCG Long Short Fund declined -7.9%. The fund’s benchmarks, the Russell 3000 Index, the Equity Long-Short Index, and the S&P 500 Large Cap Index returned -7.5%, -1.2%, and -5.0% respectively for the same period.  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, Richie Capital Group mentioned SolarEdge Technologies, Inc. (NASDAQ:SEDG) and explained its insights for the company. Founded in 2006, SolarEdge Technologies, Inc. (NASDAQ:SEDG)  is a Herzliya, Israel-based photovoltaics company with a $16.9 billion market capitalization. SolarEdge Technologies, Inc. (NASDAQ:SEDG)  delivered a 9.78% return since the beginning of the year, while its 12-month returns are up by 15.70%. The stock closed at $308.00 per share on April 13, 2022.

Here is what Richie Capital Group has to say about SolarEdge Technologies, Inc. (NASDAQ:SEDG) in its Q1 2022 investor letter:

SolarEdge (SEDG up 14.66%) – SolarEdge has benefitted from a market focus on alternative energy sources. The war in Ukraine and subsequent increase in oil prices have encouraged countries around the world to look to a future less reliant on oil. We recently published a writeup on our investment thesis for the company. You can read it here.”

Our calculations show that SolarEdge Technologies, Inc. (NASDAQ:SEDG) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. SolarEdge Technologies, Inc. (NASDAQ:SEDG) was in 34 hedge fund portfolios at the end of the first quarter of 2022, compared to 33 funds in the previous quarter. SolarEdge Technologies, Inc. (NASDAQ:SEDG) delivered a 18.00% return in the past 3 months.

In July 2021, we published an article that includes SolarEdge Technologies, Inc. (NASDAQ:SEDG) 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