Here’s Why Sea Limited (SE) Performed Well in September
Lakehouse Capital, a Sydney-based investment manager, released its “Lakehouse Global Growth Fund” September 2023 investor letter. A copy of the same can be downloaded here. After August's hectic reporting season, September was a comparatively quiet month for the Fund in terms of fundamental news flow. The fund returned -5.0% net of fees and expenses for the month compared to -3.8% 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 highlighted stocks like Sea Limited (NYSE:SE) in the September 2023 investor letter. Headquartered in Singapore, Sea Limited (NYSE:SE) engages in digital entertainment, e-commerce, and digital financial service businesses. On December 8, 2023, Sea Limited (NYSE:SE) stock closed at $40.00 per share. One-month return of Sea Limited (NYSE:SE) was -13.10%, and its shares lost 35.76% of their value over the last 52 weeks. Sea Limited (NYSE:SE) has a market capitalization of $22.75 billion.
Lakehouse Global Growth Fund made the following comment about Sea Limited (NYSE:SE) in its September 2023 investor letter:
"The biggest contributor to performance during the month was Sea Limited (NYSE:SE) (+17.2%), which performed well on the back of news that the Indonesian government will ban direct transactions on social media platforms. Indonesia is Sea’s largest market, and the new regulation is expected to significantly hinder their fastest growing competitor, TikTok Shop, and benefit the incumbent e-commerce platforms like Tokopedia and Sea’s Shopee."
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. As per our database, 55 hedge fund portfolios held Sea Limited (NYSE:SE) at the end of third quarter which was 62 in the previous quarter.
We discussed Sea Limited (NYSE:SE) in another article and shared Chase Coleman's top stock picks. In addition, please check out our hedge fund investor letters Q3 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.
