Oakmark Funds, an investment management company, has released its Investor Letter for Q3 2022 for the ‘Oakmark Global Select Fund’. A copy of the same can be downloaded here. The Q3 return was -11.3% compared to -6.2% for the MSCI World Index. For the year ended September 30, 2022, the fund returned -29.7% compared to -19.6% for the benchmark index. Plus, check out the fund’s top 5 holdings to discover our best picks for 2022.
In its Q3 2022 investor letter, Oakmark Funds discussed stocks such as Humana Inc. (NYSE:HUM). Headquartered in Louisville, Kentucky, Humana Inc. (NYSE:HUM) is an American health and wellbeing company. On October 11, 2022, Humana Inc. (NYSE: HUM) stock closed at $498.49 per share. His one-month return for Humana Inc. (NYSE: HUM) is his 8.64%, and the company’s stock has risen 18.49% over the past 52 weeks. Humana Inc. (NYSE:HUM) has a market capitalization of $63.086 billion.
Below is what the Oakmark Fund specifically said about Humana Inc. (NYSE:HUM) in its Q3 2022 investor letter.
“The biggest contributor to year-round performance was Humana Co., Ltd. (NYSE:HUM) (United States), a leader in Medicare Advantage, the fastest growing managed care sector, and a nearly pure business. In its first-quarter earnings report, the company generally beat consensus expectations and raised its guidance. Encouragingly, the problems that caused the enrollment shortage for Medicare Advantage this year appear to have stabilized, with member retention appearing to be as expected or slightly better during the most recent open enrollment period. In addition, Humana reaffirmed its full-year guidance of adjusted earnings of $24.50 per share of common stock. The company’s second-quarter earnings results beat consensus expectations as health care costs fell short of expectations. and indicated that it intends to reinvest most of its savings in improving member benefits. Ultimately, Humana’s share price reached its selling target and chose to exit the position. “
Humana Inc. (NYSE:HUM) isn’t on the list of the 30 most popular hedge funds. According to our database, 69 hedge fund portfolios held his Humana Inc. (NYSE: HUM) at the end of the second quarter, compared with 66 last quarter.
We covered Humana (NYSE:HUM) in a separate article and shared the best stocks to buy, according to Jonathan Bloomberg’s Bloomberg Sen. Additionally, for investor letters from hedge funds and other leading investors, visit the Hedge Fund Investor Letters Q3 2022 page.
Disclosure: None. This article was originally published on Insider Monkey.