Oakmark Funds, an investment management firm, published its “Oakmark Select Fund” first quarter 2021 investor letter – a copy of which can be seen here. A return of 16.1% was reported by the fund for the Q1 of 2021, outperforming its S&P 500 benchmark that delivered a 6.2% return for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Oakmark Select Fund, in their Q1 2021 investor letter, mentioned TE Connectivity Ltd. (NYSE: TEL) and shared their insights on the company. TE Connectivity Ltd. is a Schaffhausen, Switzerland-based consumer electronics company that currently has a $43.6 billion market capitalization. Since the beginning of the year, TEL delivered an 8.91% return, extending its 12-month gains to 90.77%. As of April 12, 2021, the stock closed at $131.86 per share.
Here is what Oakmark Select Fund has to say about TE Connectivity Ltd. in their Q1 2021 investor letter:
“We eliminated our longstanding position in TE Connectivity during the quarter. The company is still selling at a discount to our estimate of its intrinsic value, but that discount has narrowed as TE’s stock price has increased sharply in recent quarters. As such, we don’t believe the stock is attractive enough to merit holding in a concentrated portfolio.”
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Our calculations show that TE Connectivity Ltd. (NYSE: TEL) 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, TE Connectivity Ltd. was in 39 hedge fund portfolios compared to 33 funds in the third quarter. TEL delivered a 1.07% 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.
