Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered 3.46% net of fees compared to a 4.13% return for the Russell 2000 Growth Index. Style factor headwinds and relative sector positioning offset the positive stock selection in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital highlighted stocks like CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in the fourth quarter 2022 investor letter. Headquartered in Chicago, Illinois, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) is a software technology solutions provider. On January 24, 2023, CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) stock closed at $8.87 per share. One-month return of CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) was 3.62%, and its shares lost 12.61% of their value over the last 52 weeks. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) has a market capitalization of $5.506 billion.
Polen Capital made the following comment about CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in its Q4 2022 investor letter:
“CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) is a provider of cloud-based software solutions to the property & casualty insurance industry with a focus on the automotive insurance ecosystem. The company created the Direct Repair Program (DRP) more than 30 years ago, a network connecting auto insurers with collision repair shops. CCC’s large platform helps drive cost savings in the expensive and time-consuming processing workflow for insurance carriers while driving revenue growth for repair shops through lead generation, scheduling, parts availability/throughput, and quality of the repair. As a result of this scale, the company has benefitted from network effects. This, in turn, has contributed to strong customer retention (70% of revenue from customers with >10-year relationship) over time. We believe CCC is an attractive holding in part due to a uniquely narrower range of outcomes with a proven track record for durable growth.”
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CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) at the end of the third quarter, which was 10 in the previous quarter.
We discussed CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) in another article and shared the best best AI stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 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.