FPA Queens Road, an investment management firm, published its “FPA Queens Road Small Cap Value Fund” third-quarter 2021 investor letter – a copy of which can be downloaded here. The portfolio outpaced the Russell 2000 Value TR USD Index in the quarter, delivering a -2.53% return against the index’s -2.98% return for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
FPA Queens Road Small Cap Value Fund, in its Q3 2021 investor letter, mentioned Horace Mann Educators Corporation (NYSE: HMN) and discussed its stance on the firm. Horace Mann Educators Corporation is a Springfield, Illinois-based life insurance company with a $1.5 billion market capitalization. HMN delivered a -9.54% return since the beginning of the year, while its 12-month returns are down by -4.73%. The stock closed at $38.03 per share on November 26, 2021.
Here is what FPA Queens Road Small Cap Value Fund has to say about Horace Mann Educators Corporation in its Q3 2021 investor letter:
“Horace Mann shares rose as the company announced strong earnings and a strategic acquisition of Madison National Life, a supplemental insurance provider based in the Midwest. The acquisition will allow Horace Mann agents to offer additional products to the niche market of K-12 educators.”
Based on our calculations, Horace Mann Educators Corporation (NYSE: HMN) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. HMN was in 10 hedge fund portfolios at the end of the third quarter of 2021, compared to 15 funds in the previous quarter. Horace Mann Educators Corporation (NYSE: HMN) delivered a -7.49% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.