Aristotle Capital Management, an independent/employee-owned investment management organization, published its “International Equity ADR Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. For the first quarter of 2022, Aristotle Capital’s International Equity ADR Composite posted a total U.S. dollar return of -9.75% gross of fees (-9.86% net of fees), underperforming the MSCI EAFE Index, which returned -5.91%, and the MSCI ACWI ex USA Index, which returned -5.44%. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Aristotle Capital Management International Equity ADR mentioned Sony Group Corporation (NYSE:SONY) and explained its insights for the company. Founded in 1946, Sony Group Corporation (NYSE:SONY) is a Tokyo, Japan-based multinational conglomerate corporation with a $111.9 billion market capitalization. Sony Group Corporation (NYSE:SONY) delivered a -28.37% return since the beginning of the year, while its 12-month returns are down by -9.07%. The stock closed at $90.54 per share on May 26, 2022.
Here is what Aristotle Capital Management International Equity ADR has to say about Sony Group Corporation (NYSE:SONY) in its Q1 2022 investor letter:
“Sony, maker of the PlayStation videogame console, was a leading detractor for the quarter. After a strong year in 2021, a shortfall in PlayStation 5 sales due to continued semiconductor shortages has dampened new console unit sales. Although there are likely to be continued limitations on the supply of components in the short term, consumer demand remains strong, and upcoming releases of major titles such as Horizon Forbidden West and Gran Turismo 7 are likely to further enhance demand. While Sony continues to manage supply-chain headwinds, the company has also again demonstrated its ability to build on the fundamental strength of its business across various segments. During the quarter, Sony acquired Bungie, a U.S.-based videogame developer known for the Destiny franchise and live game services; completed its initial equity investment in Japan Advanced Semiconductor Manufacturing, a foundry service subsidiary of Taiwan Semiconductor Manufacturing Company (TSMC); and acquired Brazilian music label Som Livre. Lastly, Sony announced a partnership with Honda Motor (NYSE:HMC) where the two companies expect to combine Honda’s expertise in manufacturing vehicles with Sony’s proficiency in imaging, sensing, telecommunication and network technologies to develop and commercialize electric vehicles. We feel these strategic actions demonstrate Sony’s ability to continue to improve on its market positions across its business segments with a long-term, forward-looking approach.”
Sony
Our calculations show that Sony Group Corporation (NYSE:SONY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Sony Group Corporation (NYSE:SONY) was in 26 hedge fund portfolios at the end of the first quarter of 2022, compared to 28 funds in the previous quarter. Sony Group Corporation (NYSE:SONY) delivered a -11.23% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on Sony Group Corporation (NYSE:SONY) 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.
