Artisan Global Discovery Fund, a global investment management firm, published its third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A positive return of 11.79% was recorded by the fund for the 3rd Quarter of 2020, ahead of its MSCI All Country World benchmark that returned 8.13%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Artisan Partners, in their Q3 2020 Investor Letter said that they were not able to meet their expectations for RealPage, Inc. (NASDAQ: RP) and so they sold their position in the company. RealPage, Inc. is a platform provider to the rental property market that currently has a $8.855 billion market cap. For the past 3 months, RP delivered a huge 46.12% return and settled at $86.72 per share at the closing of January 14th.
Here is what Artisan Global Discovery Fund has to say about RealPage, Inc. in their Investor Letter:
“RealPage is the market-leading platform provider to the rental property market, offering end-to-end services from marketing to lease signing, tenant payments, and communication and back-office enterprise resource planning (ERP) systems. The market opportunity is substantial with very few competitors who can operate at RealPage’s scale—and importantly, though RealPage has the dominant market share, there is ample room for further penetration. That said, the company’s CFO, in whom we had confidence and with whom we were well-acquainted prior to his joining the company, resigned unexpectedly. Furthermore, our thesis has not taken hold as we expected over the six quarters since we initiated our campaign, and we decided to exit our position.”
Last December 2020, we published an article telling that RealPage, Inc. (NASDAQ: RP) was in 39 hedge funds’ portfolio, its all time high statistics. RealPage, Inc. proved its worth by delivering a 50.33% return for the past 12 months.
As of September 2020, Artisan Partners had a 722K share position in RP that amounted to $41.6 million. However, our calculations showed that RealPage, Inc. (NASDAQ: RP) does not belong to the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 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. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.