Here’s Why Tao Value Disposed its Palantir Technologies (PLTR) Shares

Tao Value, an investment management firm, published its fourth-quarter 2021 investor letter – a copy of which can be downloaded here. A return of -4.82 percentage points was delivered by the fund for the fourth quarter of 2021, underperforming its benchmark, the MSCI All Country World Index which delivered +6.98 percentage points for the same period. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.

Tao Value, in its Q4 2021 investor letter, mentioned Palantir Technologies Inc. (NYSE:PLTR) and discussed its stance on the firm. Founded in 2003, Palantir Technologies Inc. (NYSE:PLTR) is a Denver, Colorado-based software company with a $25.5 billion market capitalization, and is currently spearheaded by its CEO, Alex Karp. Palantir Technologies Inc. (NYSE:PLTR) delivered a -30.86% return since the beginning of the year, while its 12-month returns are down by -45.87%. The stock closed at $12.59 per share on March 21, 2022.

Here is what Tao Value has to say about Palantir Technologies Inc. (NYSE:PLTR) in its Q4 2021 investor letter:

“We have no new position this quarter and have made below changes to our portfolio. We also sold Palantir (PLTR) as I identified it subject to high retail bubble risk (using above method) and are not
part of our core “Mindful Compounder” holdings.”

Our calculations show that Palantir Technologies Inc. (NYSE:PLTR) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Palantir Technologies Inc. (NYSE:PLTR) was in 33 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 35 funds in the previous quarter. Palantir Technologies Inc. (NYSE:PLTR) delivered a -33.39% return in the past 3 months.

In July 2021, we also shared another hedge fund’s views on Palantir Technologies Inc. (NYSE:PLTR) in another article. You can find other 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.