First Eagle Investment Management, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. A net return of 3.71% was delivered by the fund for the Q1 of 2021. The Fund underperformed the MSCI World Index in the period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
First Eagle Investment Management, in their Q1 2021 investor letter, mentioned Colgate-Palmolive Company (NYSE: CL) and shared their insights on the company. Colgate-Palmolive Company is an New York-based consumer products company that currently has a $68.6 billion market capitalization. Since the beginning of the year, CL delivered a -5.22% return, while its 12-month gains are up by 13.79%. As of April 22, 2021, the stock closed at $81.05 per share.
Here is what First Eagle Investment Management has to say about Colgate-Palmolive Company in their Q1 2021 investor letter:
“The leading detractors in the quarter (included) Colgate-Palmolive Company. After a strong 2020 fueled in part by lockdown-driven demand, consumer staples stocks generally cooled during the first quarter as investors shifted attention to the more economically sensitive areas of the market likely to benefit from re-openings and improved discretionary spending. The effects of this rotation could be seen in the share price underperformance of names like Colgate-Palmolive.”
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Our calculations show that Colgate-Palmolive Company (NYSE: CL) 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, Colgate-Palmolive Company was in 46 hedge fund portfolios, compared to 47 funds in the third quarter. CL delivered a 2.23% 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.
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Disclosure: None. This article is originally published at Insider Monkey.
