Bell Global Equities Fund, managed by Bell Asset Management, released its latest investor update, available for download. March saw heightened volatility due to the Middle East conflict, with the MSCI World ex Australia Index falling 2.5% and the Bell Global Equities Fund (Wholesale class) declining 3.1%. The portfolio’s underweight in Energy was the primary headwind to relative performance, compounded by poor stock selection in Communication Services, Health, and Energy. A tentative ceasefire in early April has helped stabilize sentiment and reverse some March declines. Future market trends depend on the ceasefire’s durability and how ongoing energy supply disruptions affect inflation and growth through 2026. In addition, the ongoing AI disruption narrative is significantly influencing market behavior, causing indiscriminate selling across various sectors. The recent weakness appears to be sentiment-driven rather than fundamental deterioration, thus creating opportunities. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Bell Global Equities Fund highlighted stocks such as Old Dominion Freight Line, Inc. (NASDAQ:ODFL). Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is a less-than-truckload motor carrier that provides regional, inter-regional, and national less-than-truckload services, as well as expedited transportation. On June 5, 2026, Old Dominion Freight Line, Inc. (NASDAQ:ODFL) closed at $242.57 per share. One-month return of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) was 50.44%, and its shares gained 53.36% over the past 52 weeks. Old Dominion Freight Line, Inc. (NASDAQ:ODFL) has a market capitalization of $50.45 billion.
Bell Global Equities Fund stated the following regarding Old Dominion Freight Line, Inc. (NASDAQ:ODFL) in its Q1 2026 investor letter:
“Among other exits was the sale of Old Dominion Freight Line, Inc. (NASDAQ:ODFL), a leading US less-than-truckload (LTL) carrier. While we continue to see good scope for strong earnings growth in the coming years as earnings rebound from depressed levels, a strong rally in the share price and material valuation re-rating have largely priced this in. With the potential for macro disruptions related to the conflict in Iran, we felt the risk-reward profile was starting to skew to the downside and therefore exited the position.”
Old Dominion Freight Line, Inc. (NASDAQ:ODFL) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 51 hedge fund portfolios held Old Dominion Freight Line, Inc. (NASDAQ:ODFL) at the end of the first quarter, up from 48 in the previous quarter. While we acknowledge the risk and potential of Old Dominion Freight Line, Inc. (NASDAQ:ODFL) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Old Dominion Freight Line, Inc. (NASDAQ:ODFL) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Old Dominion Freight Line, Inc. (NASDAQ:ODFL) and shared the list of best transport infrastructure stocks to buy for 2026. In addition, please check out our hedge fund investor letters Q1 2026 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.
