LRT Capital Management, an investment management company, has published its September 2022 investor letter. You can download a copy here. The September 2022 LRT Economic Moat strategy recorded a return of -20.49%, giving a 12-month return of -32.37%. I As of October 3, 2022, the Fund’s net exposure was approximately 102.73% and its beta-adjusted exposure was 84.33%. Take some time to review the fund’s top five holdings to get an idea of the best stocks of 2022.
In its Q3 2022 investor letter, LRT Capital Management referred to Micron Technology, Inc. (NASDAQ:MU) and provided insight into the company. Founded in 1978, Micron Technology, Inc. (NASDAQ:MU) is a Boise, Idaho-based semiconductor manufacturing company with a market capitalization of $57.3 billion. Micron Technology, Inc. (NASDAQ:MU) has returned -43.37% since the beginning of the year, but its 12-month return is down -20.53%. The stock closed at $52.75 per share on October 12, 2022.
Here’s what LRT Capital Management has to say about Micron Technology, Inc. (NASDAQ:MU) in its Q3 2022 investor letter:
“Anecdotally, stocks are starting to react positively to seemingly bad news. Micron Technology, Inc. (NASDAQ: MU), the memory chip maker reported earnings on Sept. 29 and provided the latest guidance.thGuidance was well below what the company had previously announced and suggested the company may not turn a profit at all in the first quarter of next year.3 Still, stocks rose on the news, suggesting investors are already pricing in a lot of bad news.
By our calculations, Micron Technology (NASDAQ:MU) was short and did not appear on our list. The 30 Most Popular Hedge Fund StocksMicron Technology, Inc. (NASDAQ:MU) was included in 69 hedge fund portfolios at the end of the second quarter of 2022, compared with 78 funds in the previous quarter. Micron Technology, Inc. (NASDAQ:MU) has posted a -10.38% return over the past three months.In September 2022, he also shared his views on another hedge fund, Micron Technology, Inc. (NASDAQ:MU). another articleHedge funds and other investor letters from prominent investors can be found on our website. Hedge Fund Investor Letter 2022 Q3 page.
Disclosure: None. This article was originally published on Insider Monkey.