Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 10.46% gross and 10.22% net of fees compared to a 12.75% return for the Russell 2000 Growth Index. The firm views the performance in many respects as evidence of the stability of its investment approach in the face of frequent and significant market swings. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. Small Company Growth Strategy featured stocks such as XPEL, Inc. (NASDAQ:XPEL) in the fourth quarter 2023 investor letter. Headquartered in San Antonio, Texas, XPEL, Inc. (NASDAQ:XPEL) manufactures and distributes after-market automotive products. On February 20, 2024, XPEL, Inc. (NASDAQ:XPEL) stock closed at $54.38 per share. One-month return of XPEL, Inc. (NASDAQ:XPEL) was 3.68%, and its shares lost 30.73% of their value over the last 52 weeks. XPEL, Inc. (NASDAQ:XPEL) has a market capitalization of $1.511 billion.
Polen U.S. Small Company Growth Strategy stated the following regarding XPEL, Inc. (NASDAQ:XPEL) in its fourth quarter 2023 investor letter:
“XPEL, Inc. (NASDAQ:XPEL) is a leader in the automotive paint protection film (“PPF”) market and a holding we initiated in the third quarter. During the period, the stock sold off sharply on news that Tesla entered the market in 2 of their 100 service centers. We believe the reaction was overblown and the combination of increasing attach rates, adjacent categories (for instance, new markets like architectural and Marine), and geographic expansion provide a long runway of growth for XPEL. Of note, we recently visited the company’s corporate headquarters in San Antonio and came away with renewed confidence in the strength of the management team to execute against their strategic priorities and deliver profitable growth over the long-term.”
A mechanic working in a busy automotive service station, attended by customers.
XPEL, Inc. (NASDAQ:XPEL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, XPEL, Inc. (NASDAQ:XPEL) was held by 17 hedge fund portfolios, up from 14 in the previous quarter, according to our database.
We discussed XPEL, Inc. (NASDAQ:XPEL) in another article and shared Smoak Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.
