Miller Value Partners, an investment management firm, published its ‘Opportunity Equity’ fourth-quarter 2020 Investor Letter – a copy of which can be seen here. A net return of 35.4% was recorded by the fund for the Q4 of 2020, outperforming its S&P 500 benchmark that delivered a 12.15% return. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Miller Value Partners, in their Q4 2020 Investor Letter, said that Green Thumb Industries Inc. (NYSE: GTBIF) is undervalued in terms of their licenses. Green Thumb Industries Inc. is a cannabis consumer packaged goods company that currently has a $7.7 billion market cap. For the past 3 months, GTBIF delivered an impressive 77.76% return and settled at $36.44 per share at the closing of February 12th.
Here is what Miller Value Partners has to say about Green Thumb Industries Inc. in their Q4 2020 investor letter:
“Green Thumb, another new name, is a cannabis company that we have watched for a while. The company is the best capital allocator in the space with a focus on profitable growth in limited license states, while also building national brands. We believe there’s a long growth runway due to state adoption driven by budgetary needs. We believe that GTBIF is undervalued based on their current licenses alone, while state expansion is virtually guaranteed.”
GTBIF delivered a massive 302.21% return in the past 12 months. Our calculations show that Green Thumb Industries Inc. (NYSE: GTBIF) does not belong in our list of 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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