Horos Asset Management recently published its Q4 2020 Investor Letter – a copy of which can be downloaded here. The fund returned 26.3% in the period, outperforming its benchmark index that delivered an 11.9% return.
Horos Asset Management said in their letter that they reduced their position in Baidu, Inc. (NASDSAQ: BIDU) amid rising competition. Baidu, Inc. is a global technology company that currently has a $101.4 billion market cap. For the past 3 months, BIDU delivered a huge 106.11% return and settled at $276.60 per share at the closing of February 8th.
Here is what Horos Asset Management has to say about Baidu, Inc. in their Q4 2020 investor letter:
“We also reduced our exposure to the other Chinese technology giant we hold in our portfolio: Baidu. As we have already highlighted in prior letters, the company has managed—after some very challenging quarters—to refocus its services and develop its own ecosystem around its super app Baidu App, to face the threats posed by WeChat (Tencent), Alipay (Alibaba) and other recently created apps, which have huge acceptance and growth in the country. Finally, Baidu’s share price has rewarded these efforts, with a share price rise of over 100% since the March lows.”
In December, we published an article about Baidu, Inc. (NASDSAQ: BIDU)’s partnership with EV companies. In our recent data, the company was in 43 hedge fund portfolios. Its all time high statistics is 72. BIDU delivered a commendable 120.73% return in the past 12 months.
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
At Insider Monkey we scour multiple sources to uncover the next great investment idea. For example, Federal Reserve has been creating trillions of dollars electronically to keep the interest rates near zero. We believe this will lead to inflation and boost real estate prices. So, we recommended this real estate stock to our monthly premium newsletter subscribers. We go through lists like the 10 most profitable companies in the world to pick the best large-cap stocks to buy. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our website.
Disclosure: None. This article is originally published at Insider Monkey.