Polen Capital, an investment management company, released its “Polen Focus Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned -5.47% net in the third quarter compared to -3.60% return for the Russell 1000 Growth Index and -4.88% return for the S&P 500 Index. Inflation and interest rate hikes caused a decline in the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital discussed stocks like Adobe Inc. (NASDAQ:ADBE) in the Q3 2022 investor letter. Headquartered in San Jose, California, Adobe Inc. (NASDAQ:ADBE) is a global software company. On November 04, 2022, Adobe Inc. (NASDAQ:ADBE) stock closed at $285.75 per share. One-month return of Adobe Inc. (NASDAQ:ADBE) was 1.83% and its shares lost -56.31% of their value over the last 52 weeks. Adobe Inc. (NASDAQ:ADBE) has a market capitalization of $139.391 billion.
Polen Capital made the following comment about Adobe Inc. (NASDAQ:ADBE) in its Q3 2022 investor letter:
“For Adobe Inc. (NASDAQ:ADBE), the bigger story was the announcement that they plan to acquire Figma, a maker of collaboration tools for developers and designers for $20 billion. The size of the price tag for a company that is now generating only a few hundred million dollars in revenue brings up concerns about how strong Adobe’s competitive advantages are and whether this acquisition was defensive. We have seen Figma already encroach on some of Adobe’s turf as its Adobe XD product was the company’s collaboration tool, but it has already been deprecated as developers and designers increasingly opted to use Figma for design collaboration instead.
Our work on Figma suggests that while the company could be a larger competitor to Adobe over time, it does not overlap with most of Adobe’s key design tools today. We believe Figma is much stronger in collaboration tools with its in-browser and multiplayer technologies, and Adobe is much stronger when it comes to design creation and editing tools. We can see how acquiring Figma could give Adobe the type of next-generation design and collaboration platform that can position the company even better for the next ten years. That said, we continue to assess the likelihood that this deal will be approved by regulators and the range of outcomes for Adobe with and without Figma.”
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Adobe Inc. (NASDAQ:ADBE) is in 22nd position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 92 hedge fund portfolios held Adobe Inc. (NASDAQ:ADBE) at the end of the second quarter which was 93 in the previous quarter.
We discussed Adobe Inc. (NASDAQ:ADBE) in another article and shared the list of top QQQ stocks by index weight. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.
It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
How could anything be worth that much?
The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.
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In fact, Verge argues this company’s supercheap AI technology should concern rivals.
Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.
Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.
Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…
But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.
And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…
This prediction might not be bold at all:
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