Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund underperformed its benchmark, the Russell 2500 Growth Index, and returned -28.35% net of fees. Poor performance of consumer discretionary and financials sectors impacted the fund’s performance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital discussed stocks like Revolve Group, Inc. (NYSE:RVLV) in the second quarter investor letter. Headquartered in Cerritos, California, Revolve Group, Inc. (NYSE:RVLV) is an online fashion retailer. On September 28, 2022, Revolve Group, Inc. (NYSE:RVLV) stock closed at $24.49 per share. One-month return of Revolve Group, Inc. (NYSE:RVLV) was 1.16% and its shares lost 60.35% of their value over the last 52 weeks. Revolve Group, Inc. (NYSE:RVLV) has a market capitalization of $1.796 billion.
Here is what Harding Polen Capital specifically said about Revolve Group, Inc. (NYSE:RVLV) in its Q2 2022 investor letter:
“Revolve Group, Inc. (NYSE:RVLV) is an e-commerce fashion company we believe is executing well. The stock weakness during the period was more sentiment-driven as the market grew increasingly concerned about consumer spending a recession.
We acknowledge that there could be some softness in the company’s near-term results as consumers tighten their purse strings, but we believe there remains tremendous long-term potential for this business. We have also observed that Revolve’s management team is exceptional when it comes to navigating unprecedented challenges, as they did during the pandemic and have a long history of doing so since being founded in 2003 and bootstrapped by their founders. Management preparedness is an important marker we are looking for during this challenging time and Revolve’s management team unquestionably passes the test in this area. We added to our position on this weakness.”
Pixabay/Public Domain
Revolve Group, Inc. (NYSE:RVLV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Revolve Group, Inc. (NYSE:RVLV) at the end of the second quarter which was 23 in the previous quarter.
We discussed Revolve Group, Inc. (NYSE:RVLV) in another article and shared Madison Funds’ views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.
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