Would You Choose to Invest in Alphabet (GOOG)?

Stewart Asset Management, an investment management firm, published its third-quarter 2022 investor letter – a copy of which can be downloaded here. For the quarter that ended September 30th, the fund’s Flagship portfolio declined 8.07%, net of fees. The S&P 500 Index, our benchmark, lost 4.88%. For the nine months ending September 30th, its Flagship declined 35.68%, net of fees, and the S&P 500 Index lost 23.87%. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.

In its Q3 2022 investor letter, Stewart Asset Management mentioned Alphabet Inc. (NASDAQ:GOOG) and explained its insights for the company. Founded in 2015, Alphabet Inc. (NASDAQ:GOOG) is a Mountain View, California-based multinational technology conglomerate holding company with a $1.2 trillion market capitalization. Alphabet Inc. (NASDAQ:GOOG) delivered a -35.33% return since the beginning of the year, while its 12-month returns are down by -36.23%. The stock closed at $93.56 per share on December 12, 2022.

Here is what Stewart Asset Management has to say about Alphabet Inc. (NASDAQ:GOOG) in its Q3 2022 investor letter:

“We invest in businesses with strong, resilient earnings growth which are less cyclical. In the pandemic recession of 2020, the aggregate earnings of the portfolios we manage did not decline year-over-year, and in fact grew, albeit modestly. Looking at the Great Recession which began at year-end 2007 and lasted to mid-year 2009 is helpful too. Our four largest current holdings in the portfolio weathered that period well. Alphabet (NASDAQ:GOOG), then called Google, reported earnings that doubled from 2007 to 2010.”

Pixabay/Public Domain

Our calculations show that Alphabet Inc. (NASDAQ:GOOG) ranks 6th on our list of the 30 Most Popular Stocks Among Hedge Funds. Alphabet Inc. (NASDAQ:GOOG) was in 156 hedge fund portfolios at the end of the second quarter of 2022, compared to 153 funds in the previous quarter. Alphabet Inc. (NASDAQ:GOOG) delivered a -16.37% return in the past 3 months.

In November 2022, we published an article that includes Alphabet Inc. (NASDAQ:GOOG) in 5 Best AI Stocks to Buy Now. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.

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Disclosure: None. This article is originally published at Insider Monkey.