Polen Capital, an investment management firm, released its “U.S. Small Company Growth Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. In the third quarter, the U.S. Small Company Growth Composite Portfolio, referred to as the “Portfolio,” posted returns of -3.66% gross and -3.97% net of fees. This performance is in contrast to the -7.32% return of the Russell 2000 Growth Index, known as the “Index.” Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Polen U.S. Small Company Growth mentioned DocGo Inc. (NASDAQ:DCGO) and explained its insights for the company. DocGo Inc. (NASDAQ:DCGO) is a United States-based healthcare distribution company with a $626.8 billion market capitalization. DocGo Inc. (NASDAQ:DCGO) delivered a -14.57% return since the beginning of the year, while its 12-month returns are down by -28.44%. The stock closed at $6.04 per share on November 3, 2023.
Here is what Polen U.S. Small Company Growth has to say about DocGo Inc. (NASDAQ:DCGO) in its Q3 2023 investor letter:
“DocGo, a healthcare company known for its distinctive mobile healthcare delivery model, was a new portfolio holding as of the first quarter of 2023. While we believe that the business is on track, we have been diligently monitoring a potential risk related to their immigrant services contract with New York City, which widens the range of outcomes for the business to a level we are uncomfortable with and calls into question management’s focus and decision-making. We also learned that the company’s CEO had provided false information about his background and qualifications. This is unethical behavior and is a clear violation of the effective management condition in our flywheel.”
A doctor utilizing a cloud-based healthcare platform to access patient records.
Our calculations show that DocGo Inc. (NASDAQ:DCGO) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. DocGo Inc. (NASDAQ:DCGO) was in 18 hedge fund portfolios at the end of the second quarter of 2023, compared to 17 funds in the previous quarter. DocGo Inc. (NASDAQ:DCGO) delivered a -32.51% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
