Top 5 Stock Picks of Teresa Barger’s Cartica Management

4. Sea Limited (NYSE:SE)

Cartica Management’s Stake Value: $28,758,000
Percentage of Cartica Management’s Portfolio: 8.24%
Number of Hedge Fund Holders: 77

Sea Limited (NYSE:SE) works with its subsidiaries throughout Southeast Asia, Latin America, the rest of Asia, and all over the world in the digital entertainment, e-commerce, and financial services categories. Tiger Global Management was the leading shareholder of Sea Limited (NYSE:SE), with 13.52 million shares worth over $1.62 billion. Next on the list was Kora Management, which owned 3.49 million shares of Sea Limited (NYSE:SE), worth over $418.45 million. Overall, at the end of the first quarter of 2022, Sea Limited (NYSE:SE) was in 77 hedge fund portfolios, down from 108 in the previous quarter.

Cartica Management gave a large vote of confidence to Sea Limited (NYSE:SE) in Q1 2022. The hedge fund upped its position by an impressive 116% or 128,900 shares. Cartica Management’s total stake was worth $28.76 million as of March 31, representing 8.24% of its portfolio.

Here is what Baron Funds has to say about Sea Limited (NYSE:SE) in its Q1 2022 investor letter:

“Sea Limited, a global digital gaming and e-commerce company, detracted from performance for the period held. Similar to other online consumer businesses, Sea faced significant multiple compression in the quarter, exacerbated by a slowdown in user growth at its key Free Fire digital game and mounting investments in its e-commerce operation, particularly in new markets like Brazil. We exited our position as we lost confidence in the long- term unit economics in some of Sea’s new markets and were concerned by the simultaneous slowdown in revenue growth and increase in underlying cash burn.”