Ollie’s Bargain Outlet Holdings (OLLI) Outperformed in Q1

Harding Loevner, an asset management company, released its “Global Small Companies Equity Strategy” first-quarter 2023 investor letter. A copy of the same can be downloaded here. Global small-cap stocks rose in the quarter despite failures in the banking sector.  In the first quarter, the strategy returned 4.64% net of fees compared to a 4.37% return for the MSCI All Country World Small Cap Index. The strategy benefitted from positive stock selection and sector and regional allocation. In addition, please check the fund’s top five holdings to know its best picks in 2023.

HL Global Small Companies Equity Strategy highlighted stocks like Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in the first quarter 2023 investor letter. Headquartered in Harrisburg, Pennsylvania, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is a retailer of brand-name merchandise. On June 13, 2023, Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) stock closed at $62.13 per share. One-month return of Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) was -5.51%, and its shares gained 14.86% of their value over the last 52 weeks. Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) has a market capitalization of $3.84 billion.

HL Global Small Companies Equity Strategy made the following comment about Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) in its first quarter 2023 investor letter:

“By region, the US posted the biggest outperformance. The growth outlook issued by discount retailer Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) topped expectations, as worries over inflation drove consumers to seek out lower-priced goods. Our bank holdings also outperformed amid a broad industry sell-off.”

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Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Ollie’s Bargain Outlet Holdings, Inc. (NASDAQ:OLLI) at the end of first quarter 2023 which was 31 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 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.