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10 Best Stocks to Buy According to Billionaire Mason Hawkins
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10 Best Stocks to Buy According to Billionaire Mason Hawkins
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Here’s Why Harding Loevner Sold its Baidu (BIDU) Position
Harding Loevner, an investment management firm, published its “International Equity” fourth quarter 2020 investor letter – a copy of which can be downloaded here. A net return of 16.28% was recorded by the fund in the fourth quarter of 2020, trailing its MSCI All Country World Ex-US benchmark that delivered a 17.08% return but above its MSCI EAFE Index that had a gain of 16.09% in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Harding Loevner, in their Q4 2020 investor letter, mentioned Baidu, Inc. (NASDAQ: BIDU) and shared their insights on the company. Baidu, Inc. is a Beijing, China-based internet technology company that currently has a $73.2 billion market capitalization. Since the beginning of the year, BIDU delivered a -2.58% return, impressively extending its 12-month gains to 122.72%. As of March 31, 2021, the stock closed at $217.55 per share.