Should You Invest in Kingsoft Cloud Holdings Limited (KC)?
Baron Funds, an investment management company, released its “Baron Emerging Markets Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund gained 2.68% (Institutional Shares), compared to a 3.96% return for its principal benchmark, the MSCI EM Index, and a 4.27% return for the MSCI EM IMI Growth Index. High volatility and swings in sentiment and leadership drove the fund to modestly underperform the core benchmark and the all-cap growth proxy in the period. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Baron Emerging Markets Fund highlighted stocks like Kingsoft Cloud Holdings Limited (NASDAQ:KC) in the first quarter 2023 investor letter. Headquartered in Beijing, the People's Republic of China, Kingsoft Cloud Holdings Limited (NASDAQ:KC) provides cloud services to businesses and organizations. On June 23, 2023, Kingsoft Cloud Holdings Limited (NASDAQ:KC) stock closed at $5.53 per share. One-month return of Kingsoft Cloud Holdings Limited (NASDAQ:KC) was 45.91%, and its shares gained 15.69% of their value over the last 52 weeks. Kingsoft Cloud Holdings Limited (NASDAQ:KC) has a market capitalization of $1.472 billion.
Baron Emerging Markets Fund made the following comment about Kingsoft Cloud Holdings Limited (NASDAQ:KC) in its first quarter 2023 investor letter:
"Shares of Kingsoft Cloud Holdings Limited (NASDAQ:KC), a leading Chinese office software, interactive entertainment, and cloud computing company, increased during the quarter, driven by strong growth in office software subscription revenue and investor expectations that new generative AI features will increase long-term demand for productivity tools. We expect Kingsoft will be the primary beneficiary of the rapid growth of China’s office software market and shift towards domestic software vendors, and we remain shareholders."
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Kingsoft Cloud Holdings Limited (NASDAQ:KC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 7 hedge fund portfolios held Kingsoft Cloud Holdings Limited (NASDAQ:KC) at the end of first quarter 2023 which was 9 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 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.
