Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” second-quarter 2024 investor letter. A copy of the same can be downloaded here. The portfolio returned -8.42% gross and -8.71% net of fees in the second quarter compared to a -4.22% return for the Russell 2500 Growth Index. In the second quarter, there was a shift from lower-quality, high-priced stocks to a more cautious approach due to concerns about high inflation. This led to a widening performance gap between small and mid-sized and large company stocks, as investors turned to lower-volatility sectors. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Polen U.S. SMID Company Growth Strategy highlighted stocks like Kinsale Capital Group, Inc. (NYSE:KNSL) in the second quarter 2024 investor letter. Founded in 2009, Kinsale Capital Group, Inc. (NYSE:KNSL) is a specialty insurance company. On July 29, 2024, Kinsale Capital Group, Inc. (NYSE:KNSL) stock closed at $440.41 per share. One-month return of Kinsale Capital Group, Inc. (NYSE:KNSL) was 15.46%, and its shares gained 17.91% of their value over the last 52 weeks. Kinsale Capital Group, Inc. (NYSE:KNSL) has a market capitalization of $10.256 billion.
Polen U.S. SMID Company Growth Strategy stated the following regarding Kinsale Capital Group, Inc. (NYSE:KNSL) in its Q2 2024 investor letter:
“Kinsale Capital Group, Inc. (NYSE:KNSL) is a founder-led specialty insurance company focused on the excess and surplus lines market. Kinsale’s business model emphasizes efficiency, technology, and underwriting expertise. The company delivers above-industry growth and returns, consistently outperforming its peers and taking industry market share. A focus on smaller accounts and hard-to-place risks, together with emphasis on technology-driven operations and disciplined underwriting contribute to Kinsale’s competitive advantage. We believe these factors, combined with the company’s attractive financial performance and foundation for continued growth, make Kinsale Capital an appealing addition to our Portfolio.”
A Professional insurance broker discussing coverage plans with a small business owner.
Kinsale Capital Group, Inc. (NYSE:KNSL) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Kinsale Capital Group, Inc. (NYSE:KNSL) at the end of the first quarter which was 28 in the previous quarter. Kinsale Capital Group, Inc.’s (NYSE:KNSL) operating earnings per share climbed by 30.2% in the second quarter of 2024 compared to Q2 2023, while the gross written premium grew by 20.9%. While we acknowledge the potential of Kinsale Capital Group, Inc. (NYSE:KNSL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Kinsale Capital Group, Inc. (NYSE:KNSL) and shared Baron Discovery Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
