Polen Capital, an investment management company, released its “Polen Global SMID Company Growth” third quarter 2024 investor letter. A copy of the letter can be downloaded here. In the third quarter, the fund returned 7.41 (gross) and 7.40% (net) compared to a 9.37% return for the MSCI ACWI SMID Net Index. Negative stock selection and sector and country allocation led the portfolio to underperform in the quarter. Despite volatile market sentiments, global small and mid-cap equities posted gains in the third quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Polen Global SMID Company Growth highlighted stocks like Kinsale Capital Group, Inc. (NYSE:KNSL) in the third quarter 2024 investor letter. Founded in 2009, Kinsale Capital Group, Inc. (NYSE:KNSL) is a specialty insurance company. On November 20, 2024, Kinsale Capital Group, Inc. (NYSE:KNSL) stock closed at $478.29 per share. The one-month return of Kinsale Capital Group, Inc. (NYSE:KNSL) was 4.33%, and its shares gained 31.87% of their value over the last 52 weeks. Kinsale Capital Group, Inc. (NYSE:KNSL) has a market capitalization of $11.138 billion.
Polen Global SMID Company Growth stated the following regarding Kinsale Capital Group, Inc. (NYSE:KNSL) in its Q3 2024 investor letter:
“Kinsale Capital Group, Inc. (NYSE:KNSL) is a specialty insurance company focused on the U.S. excess and surplus lines (“E&S”) market. We see them as uniquely positioned in the E&S insurance market, with solid financial performance and competitive advantages to prepare to continue capturing market share in the face of industry challenges.”
A Professional insurance broker discussing coverage plans with a small business owner.
Kinsale Capital Group, Inc. (NYSE:KNSL) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Kinsale Capital Group, Inc. (NYSE:KNSL) at the end of the third quarter which was 28 in the previous quarter. While we acknowledge the potential of Kinsale Capital Group, Inc. (NYSE:KNSL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Kinsale Capital Group, Inc. (NYSE:KNSL) and shared the list of most profitable growth stocks to invest in along with the latest market trends. Polen Capital’s U.S. SMID Company Growth Strategy initiated a position in Kinsale Capital Group, Inc. (NYSE:KNSL) in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.
READ NEXT: Michael Burry Is Selling These Stocks and A New Dawn Is Coming to US Stocks.
Disclosure: None. This article is originally published at Insider Monkey.