Artisan Partners, an investment management company, released its “Artisan Global Value Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, its Investor Class fund ARTGX returned -10.16%, Advisor Class fund APDGX posted a return of -10.17%, and Institutional Class fund APHGX returned -10.14%, compared to a return of -6.82% for the MSCI All Country World Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Partners discussed stocks like Alibaba Group Holding Limited (NYSE:BABA) in its Q3 2022 investor letter. Headquartered in Hangzhou, the People’s Republic of China, Alibaba Group Holding Limited (NYSE:BABA) is a technology company. On October 14, 2022, Alibaba Group Holding Limited (NYSE:BABA) stock closed at $73.02 per share. One-month return of Alibaba Group Holding Limited (NYSE:BABA) was -16.70% and its shares lost 56.23% of their value over the last 52 weeks. Alibaba Group Holding Limited (NYSE:BABA) has a market capitalization of $197.642 billion.
Here is what Artisan Partners specifically said about Alibaba Group Holding Limited (NYSE:BABA) in its Q3 2022 investor letter:
“Alibaba Group Holding Limited (NYSE:BABA) declined 30% during the quarter primarily due to the continued impact of China’s zero-COVID policy. In August, more than 70 Chinese cities with 300 million combined population were in some state of lockdown. Unfortunately, this comes on top of the other regulatory and competitive challenges that had previously been pressuring Alibaba’s shares over the past year. The painful decline in the share price has made Alibaba a poor investment so far—for good reason. In the second quarter, core online e-commerce revenues were down 10%, and adjusted profits declined 18%. That said, Alibaba shares are priced for this terrible environment to continue forever, and many of the exogenous issues should eventually abate. Signs suggest the regulatory pressure is already easing. The government has been stepping in with economic stimulus. The zero-COVID policy must eventually end. In addition, Alibaba’s management has taken important steps to improve profitability by reducing investments in loss-making new business ventures. When the environment improves, we believe that Alibaba’s core business franchises will return to growth, and profits will follow. The disconnect between Alibaba’s price and value continues to be one of the biggest we have seen in our careers.”
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Alibaba Group Holding Limited (NYSE:BABA) is in 13th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held Alibaba Group Holding Limited (NYSE:BABA) at the end of the second quarter which was 100 in the previous quarter.
We discussed Alibaba Group Holding Limited (NYSE:BABA) in another article and shared the list of the most valuable internet companies today versus in 2000. In addition, please check out our hedge fund investor letters Q3 2022 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.
