SaltLight Capital, an investment management company, released its “SaltLight SNN Worldwide Flexible Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The SaltLight Worldwide Flexible Fund generated a return of 30.8% in 2023. The final quarter of the year had a strong finish with a return of +15.4%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
SaltLight Capital featured stocks like AppLovin Corporation (NASDAQ:APP) in the fourth quarter 2023 investor letter. Headquartered in Palo Alto, California, AppLovin Corporation (NASDAQ:APP) develops a software-based platform for advertisers to enhance the marketing and monetization of their content. On February 27, 2024, AppLovin Corporation (NASDAQ:APP) stock closed at $60.63 per share. One-month return of AppLovin Corporation (NASDAQ:APP) was 47.41%, and its shares gained 353.14% of their value over the last 52 weeks. AppLovin Corporation (NASDAQ:APP) has a market capitalization of $20.735 billion.
SaltLight Capital stated the following regarding AppLovin Corporation (NASDAQ:APP) in its fourth quarter 2023 investor letter:
“AppLovin Corporation (NASDAQ:APP) operates at the intersection of game advertisers, publishers, and over one billion game players, functioning as a pivotal monetisation enabler in the free-to-play gaming ecosystem.
One of AppLovin’s strengths lies in its primary use of contextual data for ad matching. While this type of data may not offer the high precision of first-party data like Meta’s, it remains invaluable, especially in environments where traditional data signals are weaker. Contextual targeting becomes increasingly relevant in areas like connected TV (CTV), where direct user tracking is more challenging.
Connected TV, which includes devices (smart TVs, consoles, or sticks) that stream TV content, represents a flourishing opportunity set for performance-based digital advertising. As more households move away from traditional satellite or terrestrial TV in favour of internet-connected devices, the potential for monetising this viewership grows. However, advertising on CTV is still operating in the same seventy-year-old way as linear TV – with brand advertising as the dominant part of the funnel…” (Click here to read the full text)
A close-up shot of an engineer configuring an email marketing system.
AppLovin Corporation (NASDAQ:APP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, AppLovin Corporation (NASDAQ:APP) was held by 38 hedge fund portfolios, up from 33 in the previous quarter, according to our database.
We discussed AppLovin Corporation (NASDAQ:APP) in another article and shared the list of best booming stocks to buy. In addition, please check out our hedge fund investor letters Q4 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.
