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 Boot Barn Holdings, Inc. (NYSE:BOOT). Boot Barn Holdings, Inc. (NYSE:BOOT) is the largest retail chain that focuses on selling western and work-related footwear, apparel, and accessories. On June 5, 2026, Boot Barn Holdings, Inc. (NYSE:BOOT) closed at $167.60 per share. One-month return of Boot Barn Holdings, Inc. (NYSE:BOOT) was 9.47%, and its shares gained 0.07% over the past 52 weeks. Boot Barn Holdings, Inc. (NYSE:BOOT) has a market capitalization of $5.09 billion.
Bell Global Equities Fund stated the following regarding Boot Barn Holdings, Inc. (NYSE:BOOT) in its Q1 2026 investor letter:
“In contrast, Boot Barn Holdings, Inc. (NYSE:BOOT) was among the most notable detractors over the month. The escalation in geopolitical tensions drove a broad sell-off across consumer Discretionary, reflecting both risk aversion and rising concerns around household spending as fuel costs increased and inflation expectations moved higher. As a SMID-cap, high-growth apparel retailer, Boot Barn was particularly exposed to these dynamics. Despite this near-term pressure, we retain conviction in the company’s ability to deliver low single digit same-store sales growth while continuing its strong store rollout strategy, supporting sustained top-line expansion. While some macro risk factors have increased, we see the risk-reward as attractive at this level following the valuation de-rating and therefore remain comfortable holding the name in the portfolio.”
Boot Barn Holdings, Inc. (NYSE:BOOT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 48 hedge fund portfolios held Boot Barn Holdings, Inc. (NYSE:BOOT) at the end of the first quarter, up from 43 in the previous quarter. In the fourth quarter of fiscal 2026, Boot Barn Holdings, Inc.’s (NYSE:BOOT) revenue increased 19% year over year to $539 million. While we acknowledge the risk and potential of Boot Barn Holdings, Inc. (NYSE:BOOT) 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 Boot Barn Holdings, Inc. (NYSE:BOOT) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Boot Barn Holdings, Inc. (NYSE:BOOT) and shared the list of best apparel stocks to buy in 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.
