Madison Funds, managed by Madison Investment Management, has released its fourth quarter 2022 investor letter for its Madison Sustainable Equity Fund. A copy of the same can be downloaded from here. The fund returned 7% in the fourth quarter, compared to a 7.56% return for the S&P 500 index. Sector allocation was negative and stock selection was positive in the quarter. Additionally, you can check out the fund’s top 5 holdings to learn about its top picks in 2022.
Madison Funds highlighted stocks like QUALCOMM Incorporated (NASDAQ:QCOM) in a 2022Q4 investor letter. Headquartered in San Diego, California, QUALCOMM Incorporated (NASDAQ:QCOM) is a technology company. On January 13, 2023, QUALCOMM Incorporated (NASDAQ:QCOM) stock closed at $120.24 per share. QUALCOMM Incorporated (NASDAQ:QCOM) has a one-month return of 4.99% and its stock has lost 36.28% of its value over the past 52 weeks. QUALCOMM Incorporated (NASDAQ:QCOM) has a market capitalization of $134.789 billion.
Madison Funds made the following comment about QUALCOMM Incorporated (NASDAQ:QCOM) in its Q4 2022 investor letter:
“QUALCOMM Included ( NASDAQ:QCOM ) continues to be challenged by headwinds in the smartphone supply chain, with units expected to decline in 2022. Despite strong gains in the Internet of Things and automotive sectors, Qualcomm’s dominant business remains the smartphone market. We expect the smartphone market to stabilize in 2023, including China’s recovery.”
QUALCOMM Incorporated (NASDAQ:QCOM) did not make our list of the 30 most popular hedge fund stocks. According to our database, 80 hedge funds held QUALCOMM Incorporated (NASDAQ:QCOM) at the end of the third quarter, up from 71 last quarter.
We discussed QUALCOMM Incorporated ( NASDAQ:QCOM ) in another article and shared a list of cheap semiconductor stocks to buy. Also, please check out our 2022 Hedge Fund Investor Letters. Page 4 for more investor letters from hedge funds and other top investors.
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Revelation. there is none. This article was originally published on Insider Monkey.
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