Polen Capital, an investment management firm, released its “U.S. Small Company Growth Fund” third quarter 2023 investor letter, a copy of which can be downloaded here. In the third quarter, the U.S. Small Company Growth Composite Portfolio, referred to as the “Portfolio,” posted returns of -3.66% gross and -3.97% net of fees. This performance is in contrast to the -7.32% return of the Russell 2000 Growth Index, known as the “Index.” Take a moment to review the fund’s top 5 holdings to gain insights into their primary investment choices for 2023.
In its Q3 2023 investor letter, Polen U.S. Small Company Growth mentioned CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) and explained its insights for the company. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) is a Chicago, Illinois-based software company with a $6.90 billion market capitalization. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) delivered a 25.63% return since the beginning of the year, while its 12-month returns are up by 20.11%. The stock closed at $10.93 per share on November 3, 2023.
Here is what Polen U.S. Small Company Growth has to say about CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in its Q3 2023 investor letter:
“CCC Intelligent Solutions provides software and tools to the automotive insurance ecosystem. Their customers include insurance companies, repair shops, parts suppliers, medical insurance carriers, and auto manufacturers. Company fundamentals have surpassed our expectations this year, demonstrating the durability of the business and its critical role in the auto claims ecosystem. Acquisition speculation also drove the stock higher at the end of the quarter. We believe CCC remains an attractive long-term investment from a quality, free cash flow growth, and valuation perspective.”
A marketing manager looking at the data dashboard of a marketing automation software showing successful campaign results.
Our calculations show that CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) does not belong on our list of the 30 Most Popular Stocks Among Hedge Funds. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) was in 16 hedge fund portfolios at the end of the second quarter of 2023, compared to 16 funds in the previous quarter. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) delivered a 2.44% return in the past 3 months. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q3 2023 page.
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Disclosure: None. This article is originally published at Insider Monkey.
