Laughing Water Capital, an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. A net return of 25.8% was delivered by the fund for the Q1 of 2021, ahead of its S&P 500 and Russell 2000 benchmark that delivered a 6.2% and 12.7% return respectively in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Laughing Water Capital, in their Q1 2021 investor letter, mentioned PAR Technology Corporation (NYSE: PAR) and shared their insights on the company. PAR Technology Corporation is a New Hartford, New York-based technology conglomerate that currently has a $1.9 billion market capitalization. Since the beginning of the year, PAR delivered a 26.23% return, extending its 12-month gains to 358.95%. As of April 23, 2021, the stock closed at $79.26 per share.
Here is what Laughing Water Capital has to say about PAR Technology Corporation in their Q1 2021 investor letter:
“PAR Technologies (PAR) – PAR, our restaurant software business, made a $500M acquisition of Punchh, the leading provider of Loyalty solutions. PAR now has the leading Point of Sale offering for enterprise customers, the leading back office offering, and the leading Loyalty solution. Shares do not scream cheap, but in a market that has historically seen restaurants mix and match across various vendors, an integrated offering of arguably the best in class in all major process areas presents a very strong competitive position facing down a large and growing total addressable market.”
Our calculations show that PAR Technology Corporation (NYSE: PAR) 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, PAR Technology Corporation was in 19 hedge fund portfolios, compared to 12 funds in the third quarter. PAR delivered a 8.59% 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.
