Baron Funds, an asset management firm, published its “Baron Health Care Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 0.58% was delivered by the fund’s institutional shares for the Q1 of 2021, below both its S&P 500 and Russell 3000 Health Care benchmarks that delivered a 6.17% and 2.14% returns respectively for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Baron Health Care Fund, in their Q1 2021 investor letter, mentioned BridgeBio Pharma, Inc. (NASDAQ: BBIO), and shared their insights on the company. BridgeBio Pharma, Inc. is a Palo Alto, California-based biotechnology company that currently has an $8.3 billion market capitalization. Since the beginning of the year, BBIO delivered a -20.69% return, while its 12-month gains are up by 94.68%. As of April 29, 2021, the stock closed at $55.27 per share.
Here is what Baron Health Care Fund has to say about BridgeBio Pharma, Inc. in their Q1 2021 investor letter:
“BridgeBio Pharma, Inc. is a biotechnology company focused on developing drugs with an underlying genetic mechanism of action in a decentralized business model. Shares of BridgeBio declined during a risk off quarter for biotechnology stocks. We retain conviction. Many positive developments occurred in the quarter, including a successful financing; positive data from its first program in ADH1 disease, a rare genetic disease with a range of debilitating symptoms; and the company’s first FDA approval (for Nulibry, which treats a rare inborn error of metabolism).”
Our calculations show that BridgeBio Pharma, Inc. (NASDAQ: BBIO) 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, BridgeBio Pharma, Inc. was in 23 hedge fund portfolios, compared to 13 funds in the third quarter. BBIO delivered a -0.63% 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.
