Polen Capital: “We Continue to Think adidas AG (ADDYY) is Well Positioned for the Long Term”

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 adidas AG (NYSE: ADDYY) and discussed its stance on the firm. adidas AG is a Herzogenaurach, Germany-based design company with a $63 billion market capitalization. ADDYY delivered a -11.43% return since the beginning of the year, while its 12-month returns are down by -3.32%. The stock closed at $161.42 per share on November 17, 2021.

Here is what Polen Global Growth has to say about adidas AG  in its Q3 2021 investor letter:

“Adidas shares declined during the quarter as COVID-19 related factory closures in Asia led to supply chain dislocations and inventory backlogs, which constricted production. Despite these near-term challenges, we continue to think the company is wellpositioned for the long term.”

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Based on our calculations, adidas AG (NYSE: ADDYY) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. adidas AG (NYSE: ADDYY) delivered a -8.91% return in the past 3 months.

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