Appleseed Fund, an investment management firm, published its first-quarter 2021 investor letter – a copy of which can be downloaded here. A return of 14.49% was recorded by the fund for the Q1 of 2021, outperforming its MSCI World benchmark that delivered a 4.92% return for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Appleseed Fund, in its Q1 2021 investor letter, mentioned Coherent, Inc. (NASDAQ: COHR), and shared their insights on the company. Coherent, Inc. is a Santa Clara, California-based laser equipment and components manufacturer that currently has a $6.4 billion market capitalization. Since the beginning of the year, COHR delivered a 74.88% return, extending its 12-month gains to 81.08%. As of May 26, 2021, the stock closed at $261.75 per share.
Here is what Appleseed Fund has to say about Coherent, Inc. in its Q1 2021 investor letter:
“Our most significant contributors to the Fund’s equity performance during the quarter (includes) Coherent (COHR). During the quarter, Coherent announced that it was being acquired, after which several other bidders emerged. Between the takeover announcement and the bidding war among Coherent suitors, the shares rallied strongly during the quarter.”
Our calculations show that Coherent, Inc. (NASDAQ: COHR) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the first quarter of 2021, Coherent, Inc. was in 41 hedge fund portfolios, compared to 22 funds in the fourth quarter of 2020. COHR delivered an 8.84% return in the past 3 months.
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