Polen Capital, an investment management firm, published its “Polen Focus Growth” first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 1.81% was delivered by the fund for the Q1 of 2021, outperforming its Russell 1000 Growth benchmark that delivered a 0.95% return, but below the S&P 500 Index that had a 6.18% gain for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Polen Focus Growth Fund, in its Q1 2021 investor letter, mentioned salesforce.com, inc. (NYSE: CRM), and shared their insights on the company. salesforce.com, inc. is a San Francisco, California-based software company that currently has a $195.3 billion market capitalization. Since the beginning of the year, CRM delivered a -4.79% return, while its 12-month gains are up by 23.66%. As of May 13, 2021, the stock closed at $211.86 per share.
Here is what Polen Focus Growth Fund has to say about salesforce.com, inc. in its Q1 2021 investor letter:
“We opportunistically increased our weighting in Salesforce.com. After management announced the company would acquire Slack for approximately $28 billion, a high purchase price, shares came under significant pressure.
We believe the Salesforce-Slack strategic vision is on point, and although the purchase price is high in absolute dollars, it represents less than 15% of Salesforce’s market capitalization. We maintain an optimistic view of Salesforce’s business, its competitive positioning within enterprise software, and the rationale behind the Slack acquisition. We expect continued earnings and free cash flow growth many years into the future.”
Our calculations show that salesforce.com, inc. (NYSE: CRM) ranks 24th in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, salesforce.com, inc. was in 97 hedge fund portfolios, compared to 106 funds in the third quarter. CRM delivered a -11.86% 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.
