Polen Capital: “We Believe Fox Factory (FOXF) is in Good Fundamental Shape”

Polen Capital, an investment management firm, published its “Polen U.S. Small Company Growth Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Over the first quarter, the Polen U.S. Small Company Growth Composite Portfolio (the “Portfolio”) returned -21.98% gross and -22.18% net of fees, respectively, underperforming the Russell 2000 Growth Index’s (the “Index’) -12.63% return.   Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022. 

In its Q1 2022 investor letter, Polen U.S. Small Company Growth Fund mentioned Fox Factory Holding Corp. (NASDAQ:FOXF) and explained its insights for the company. Founded in 2007, Fox Factory Holding Corp. (NASDAQ:FOXF) is a Duluth, Georgia-based high-performance suspension products designer and manufacturing company with a $3.5 billion market capitalization. Fox Factory Holding Corp. (NASDAQ:FOXF) delivered a -50.04% return since the beginning of the year, while its 12-month returns are down by -43.06%. The stock closed at $84.99 per share on June 03, 2022.

Here is what Polen U.S. Small Company Growth Fund has to say about Fox Factory Holding Corp. (NASDAQ:FOXF) in its Q1 2022 investor letter:

“We believe Fox Factory is in good fundamental shape. Its management team is clear and consistent about what will drive value and durable growth for its business that is best known for its off-road racing suspension products. Despite supply chain, COVID-19, and operational challenges, the company has been one of our top performers since inception. We added to our position over the quarter, given what we believed to be the company’s attractive valuation.”

Fox, bike

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Our calculations show that Fox Factory Holding Corp. (NASDAQ:FOXF) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Fox Factory Holding Corp. (NASDAQ:FOXF) was in 19 hedge fund portfolios at the end of the first quarter of 2022, compared to 17 funds in the previous quarter. Fox Factory Holding Corp. (NASDAQ:FOXF) delivered a -11.98% return in the past 3 months.

In September 2021, we also shared another hedge fund’s views on Fox Factory Holding Corp. (NASDAQ:FOXF) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

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