Mayar Capital: “Dropbox (DBX) Continues to Progress as Expected”

Mayar Capital, an asset management firm, published its second-quarter 2022 investor letter – a copy of which can be downloaded here. For the three months ending March 31, 2021, Mayar Fund (Class A) was down 6.6% net of all expenses and fees, while the MSCI World Index declined by 5.2% in the same period. Since its inception in May 2011, Mayar Fund has seen a 198.7% increase versus a 180.9% increase for the MSCI. That corresponds to a 10.6% annualized rate of return for the Mayar Fund, compared to 10.1% for the MSCI. Go over the fund’s top 5 positions to have a glimpse of its finest picks for 2022.

In its Q2 2022 investor letter, Mayar Capital mentioned Dropbox, Inc. (NASDAQ:DBX) and explained its insights for the company. Founded in 2007, Dropbox, Inc. (NASDAQ:DBX) is a San Francisco, California-based file hosting service provider with an $8.8 billion market capitalization. Dropbox, Inc. (NASDAQ:DBX) delivered a -2.16% return since the beginning of the year, while its 12-month returns are down by -22.50%. The stock closed at $24.01 per share on August 17, 2022.

Here is what Mayar Capital has to say about Dropbox, Inc. (NASDAQ:DBX) in its Q2 2022 investor letter:

“Our technology businesses enjoyed a strong year of operating performance from Dropbox (NASDAQ:DBX). Dropbox, one of our newer holdings, continues to progress as expected. Paying users grew by 30% with the acquisition of DocSend adding value to the customer value proposition.”


Our calculations show that Dropbox, Inc. (NASDAQ:DBX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Dropbox, Inc. (NASDAQ:DBX) was in 44 hedge fund portfolios at the end of the second quarter of 2022, compared to 44 funds in the previous quarter. Dropbox, Inc. (NASDAQ:DBX) delivered a 21.20% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on Dropbox, Inc. (NASDAQ:DBX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q2 page.

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