Polen Capital: “Alphabet (GOOG) Continue to Perform Well”

Polen Capital, an investment management firm, published its “Polen Global Growth” third quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly gross return of -3.03% was delivered by the fund for the third quarter of 2021, versus the MSCI AllCountry World Index (the “Index”)’s return of -1.06% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Polen Global Growth, in its Q3 2021 investor letter, mentioned Alphabet Inc. (NASDAQ: GOOG) and discussed its stance on the firm. Alphabet Inc. is a Mountain View, California-based multinational conglomerate company with a $2,981.24 market capitalization. GOOG delivered a 70.17% return since the beginning of the year, while its 12-month returns are up by 69.01%. The stock closed at $2 trillion per share on November 17, 2021.

Here is what Polen Global Growth has to say about Alphabet Inc.  in its Q3 2021 investor letter:

“Alphabet continue to perform well as the business have grown through the pandemic. Alphabet has benefited as more people spend more time online and advertisers continued to shift towards digital ads. Those leading in the new world are accelerating investment, while those lagging are investing to close the gap. This is a great example of the pandemic accelerating trends that were already in motion, making leaders more resilient.”

Photo by Kai Wenzel on Unsplash

Based on our calculations, Alphabet Inc. (NASDAQ: GOOG) ranks 7th in our list of the 30 Most Popular Stocks Among Hedge Funds. GOOG was in 155 hedge fund portfolios at the end of the first half of 2021, compared to 159 funds in the previous quarter. Alphabet Inc. (NASDAQ: GOOG) delivered an 8.87% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.