Lakehouse Capital, a Sydney-based investment manager, released its “Lakehouse Global Growth Fund” November 2023 investor letter. A copy of the same can be downloaded here. During November, global equity markets performed well with the team focusing on tracking earnings reports of various portfolio companies. The portfolio’s holdings continue to perform well, displaying strong fundamentals and executing on their growth opportunities. The Fund returned 10.9% net of fees and expenses for the month compared to 4.3% for its benchmark. Since its inception in December 2017, the Fund has returned 124.8% compared to 75.0% for its benchmark, MSCI All Country World Index, Net Total Returns (AUD). In addition, please check the fund’s top five holdings to know its best picks in 2023.
Lakehouse Global Growth Fund featured stocks like Sea Limited (NYSE:SE) in the Q4 2023 investor letter. Headquartered in Singapore, Sea Limited (NYSE:SE) engages in digital entertainment, e-commerce, and digital financial service businesses. On March 5, 2024, Sea Limited (NYSE:SE) stock closed at $55.75 per share. One-month return of Sea Limited (NYSE:SE) was 27.84%, and its shares lost 30.15% of their value over the last 52 weeks. Sea Limited (NYSE:SE) has a market capitalization of $31.708 billion.
Lakehouse Global Growth Fund stated the following regarding Sea Limited (NYSE:SE) in its fourth quarter 2023 investor letter:
“Meanwhile, the largest detractor was Sea Limited (NYSE:SE) (-17.1%), which sold off following the release of its quarterly results where earnings came in below expectations. For our part, while a headline drop in profitability can appear worrying, we aren’t overly concerned as it was merely a function of management’s intentional decision to increase investment towards e-commerce to drive growth. As the broader Southeast Asian e-commerce market recovers from some post pandemic headwinds and their primary competitor TikTok is entangled in a regulatory setback in Indonesia, we agree with management that now is the time to be aggressive and pivot back to growth mode and consolidate market share.”
A businesswoman using her mobile device to shop on a ecommerce platform.
Sea Limited (NYSE:SE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Sea Limited (NYSE:SE) was held by 51 hedge fund portfolios, down from 55 in the previous quarter, according to our database.
We discussed Sea Limited (NYSE:SE) in another article and shared the list of tech stocks to sell according to Cathie Wood. In addition, please check out our hedge fund investor letters Q4 2023 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.