Here’s Why Polen Capital Sold its Helen of Troy (HELE) Stake

Polen Capital, an investment management firm, published its “Polen Global SMID Company Growth” third quarter 2021 investor letter – a copy of which can be downloaded here. Over the fourth quarter of 2021, the Polen Global SMID Portfolio (the “Portfolio”) returned -1.28% gross and -1.76% net of fees, versus the 3.29% return for the MSCI ACWI SMID Capitalization Index (the “Index”).  Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Polen Global SMID Company Growth Fund, in its Q4 2021 investor letter, mentioned Helen of Troy Limited (NASDAQ:HELE) and discussed its stance on the firm. Founded in 1968, Helen of Troy Limited (NASDAQ:HELE) is an El Paso, Texas,-based global consumer products company with a $4.9 billion market capitalization, and is currently spearheaded by its CEO, Julien Mininberg. Helen of Troy Limited (NASDAQ:HELE) delivered a -15.61% return since the beginning of the year, while its 12-month returns are down by -11.68%. The stock closed at $206.30 per share on March 11, 2022.

Here is what Polen Global SMID Company Growth Fund has to say about Helen of Troy Limited (NASDAQ:HELE) in its Q4 2021 investor letter:

“During the quarter, exited our position in Helen of Troy. We exited Helen of Troy as we believe the range of potential outcomes for the company has widened and would prefer to opportunistically add to our positions in other great businesses.”

Hydro Flask, Water Bottle

Photo by Shrey Gupta on Unsplash

Our calculations show that Helen of Troy Limited (NASDAQ:HELE) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Helen of Troy Limited (NASDAQ:HELE) was in 16 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 15 funds in the previous quarter. Helen of Troy Limited (NASDAQ:HELE) delivered a -14.45% return in the past 3 months.

In January 2022, we published an article that includes Helen of Troy Limited (NASDAQ:HELE) in the 10 Stocks in Focus After Releasing Their Financial Results. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.

Disclosure: None. This article is originally published at Insider Monkey.