Polen Capital’s Top Contributor: Autodesk (ADSK)

Polen Capital, an investment management company, released its “Polen Global Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The fund was down -8.63% in the third quarter compared to a -6.82% decline for the MSCI ACW Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

In the third-quarter letter, Polen Capital discussed stocks like Autodesk, Inc. (NASDAQ:ADSK). Headquartered in San Rafael, California, Autodesk, Inc. (NASDAQ:ADSK) is a global software and services provider for 3D design, engineering, and entertainment. On October 21, 2022, Autodesk, Inc. (NASDAQ:ADSK) stock closed at $201.39 per share. One-month return of Autodesk, Inc. (NASDAQ:ADSK) was 9.12% and its shares lost 34.74% of their value over the last 52 weeks. Autodesk, Inc. (NASDAQ:ADSK) has a market capitalization of $43.472 billion.

Polen Capital made the following comment about Autodesk, Inc. (NASDAQ:ADSK) in its Q3 2022 investor letter:

“At an individual company level, the top three absolute contributors were Amazon, ADP, and Autodesk, Inc. (NASDAQ:ADSK). Autodesk’s 98% recurring revenue, subscription-based business continues to prove resilient even in the face of a tough macro environment, with its numbers in line with expectations despite China’s Zero-COVID policies and slowing property sector.”

3D Printing

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Autodesk, Inc. (NASDAQ:ADSK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held Autodesk, Inc. (NASDAQ:ADSK)  at the end of the second quarter which was 50 in the previous quarter.

We discussed Autodesk, Inc. (NASDAQ:ADSK) in another article and shared Aristotle Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 2022 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.