Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio returned 14.98% gross and 14.65 % net of fees in the fourth quarter compared to a 12.59% return for the Russell 2500 Growth Index. The portfolio returned 29.39% gross and 28.05% net for the full year, compared to an 18.93% return for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. SMID Company Growth Strategy featured stocks such as Goosehead Insurance, Inc (NASDAQ:GSHD) in the fourth quarter 2023 investor letter. Headquartered in Westlake, Texas, Goosehead Insurance, Inc (NASDAQ:GSHD) is a holding company for Goosehead Financial, LLC that offers personal lines insurance agency services. On February 22, 2024, Goosehead Insurance, Inc (NASDAQ:GSHD) stock closed at $71.67 per share. One-month return of Goosehead Insurance, Inc (NASDAQ:GSHD) was -8.29%, and its shares gained 58.70% of their value over the last 52 weeks. Goosehead Insurance, Inc (NASDAQ:GSHD) has a market capitalization of $2.711 billion.
Polen U.S. SMID Company Growth Strategy stated the following regarding Goosehead Insurance, Inc (NASDAQ:GSHD) in its fourth quarter 2023 investor letter:
“Goosehead Insurance, Inc (NASDAQ:GSHD) operates as a personal line insurance brokerage, pioneering a disruptive business model and swiftly seizing market share from conventional independent and captive broker models. Underperformance during the period was not fundamentally driven. Still, it was a giveback of some of the solid performance the company had delivered through three quarters, up more than 115% on the year. The company continues to deliver results ahead of expectations, underpinned by compelling pricing, enhanced agent productivity, and improved margins. We are particularly impressed by the company’s adept execution and its capacity to achieve substantial cost efficiencies, which we believe are sustainable in the long term.”
A successful independent agent or broker discussing the benefits of life and health insurance with a customer.
Goosehead Insurance, Inc (NASDAQ:GSHD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Goosehead Insurance, Inc (NASDAQ:GSHD) was held by 26 hedge fund portfolios, up from 21 in the previous quarter, according to our database.
We discussed Goosehead Insurance, Inc (NASDAQ:GSHD) in another article and shared Polen U.S. SMID Company Growth Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Best Marijuana Stocks To Invest In
- 15 Hot Penny Stocks On the Move
- 25 Largest Economies in the World by 2100
Disclosure: None. This article is originally published at Insider Monkey.
