Richie Capital Group LLC, an equity-focused investment management firm, published its fourth quarter 2020 investor letter – a copy of which can be downloaded here. A return of -11.5% was recorded by the fund’s Long Short Portfolio in the fourth quarter of 2020, below its Russell 3000 benchmark, and S&P 500 index that delivered a 14.7% and 11.7% return respectively in the same period. Meanwhile, Richie Capital Group’s Long Only Portfolio delivered a 16.9% return in the past quarter. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Richie Capital Group, in their Q4 2020 investor letter, mentioned American Tower Corporation (REIT) (NYSE: AMT) and emphasized their views on the company. American Tower Corporation is a Boston, Massachusetts-based real estate investment trust that currently has a $106.1 billion market capitalization. Since the beginning of the year, AMT delivered a 7.74% return, while its 12-month gains are also up by 4.88%. As of March 29, 2021, the stock closed at $241.83 per share.
Here is what Richie Capital Group has to say about American Tower Corporation in their Q4 2020 investor letter:
“American Tower (AMT – Down 9.15%) – The largest operator of wireless towers has faced challenges in the form of customer churn at one of their largest customers: Sprint/T-Mobile. However, the company remains well positioned as carriers domestically and internationally transition to 5G which will require a densification of their networks.”
Africa Studio/Shutterstock.com
Our calculations show that American Tower Corporation (REIT) (NYSE: AMT) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, American Tower Corporation was in 61 hedge fund portfolios, compared to 62 funds in the third quarter. AMT delivered a 9.39% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 15 best innovative stocks to buy to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website:
Disclosure: None. This article is originally published at Insider Monkey.
