Third Avenue Management, a disciplined, value-oriented asset manager and investment fund, published its ‘Small-Cap Value Fund’ third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 11.41% was recorded by the fund for the 3rd Quarter of 2020, below its Russell 2000 Value benchmark that returned 18.91%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Third Avenue Management in their Small-Cap Value Fund’s Q3 2020 Investor Letter said that they’ve put the biggest slice of the assets under their management in MYR Group Inc. (NASDAQ: MYRG) and so they continue to have big positive hopes for the company. MYR Group Inc. is a construction engineering company that currently has a $1 billion market cap. For the past 3 months, MYR Group Inc. delivered a huge 41.47% return and settled at $63.01 per share at the closing of January 15th.
Here is what Third Avenue Management has to say about MYR Group Inc. in their Investor Letter:
“The largest position in the Fund at quarter-end was MYR Group (“MYR”). MYR is an electrical contractor providing services to electric utilities and other corporate entities. It is a nationwide leader in transmission and distribution services and would benefit not only from long-overdue upgrades to the electrical grid infrastructure but also from the growing demand for renewable energy. Renewable energy needs to be connected to the electric grid and MYR plays a pivotal role in making it happen.”
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Last December 2020, we published an article telling that MYR Group Inc. (NASDAQ: MYRG) was in 10 hedge funds’ portfolio. Its all time high statistics is 17. MYR Group Inc. delivered a 97.15% return in the past 12 months.
As of September 2020, Third Avenue Management had a 303K share position in MYRG that amounted to $11 million. This made Third Avenue Management as the top hedge fund that holds most of MYRG’s stake, followed by Royce and Associates with $9 million worth of MYRG shares and AQR Capital Management with $4 million. However, our calculations showed that MYR Group Inc. (NASDAQ: MYRG) does not belong to the 30 most popular stocks among hedge funds.
The top 10 stocks among hedge funds returned 216% since the end of 2014 and outperformed the S&P 500 Index ETFs by more than 121 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Below you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
Video: Top 5 Stocks Among Hedge Funds
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Disclosure: None. This article is originally published at Insider Monkey.
