Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio returned 14.98% gross and 14.65 % net of fees in the fourth quarter compared to a 12.59% return for the Russell 2500 Growth Index. The portfolio returned 29.39% gross and 28.05% net for the full year, compared to 18.93% return for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. SMID Company Growth Strategy featured stocks such as Five Below, Inc. (NASDAQ:FIVE) in the fourth quarter 2023 investor letter. Headquartered in Philadelphia, Pennsylvania, Five Below, Inc. (NASDAQ:FIVE) is a specialty value retailer. On February 22, 2024, Five Below, Inc. (NASDAQ:FIVE) stock closed at $192.66 per share. One-month return of Five Below, Inc. (NASDAQ:FIVE) was 1.31%, and its shares lost 6.95% of their value over the last 52 weeks. Five Below, Inc. (NASDAQ:FIVE) has a market capitalization of $10.633 billion.
Polen U.S. SMID Company Growth Strategy stated the following regarding Five Below, Inc. (NASDAQ:FIVE) in its fourth quarter 2023 investor letter:
“Five Below, Inc. (NASDAQ:FIVE) is a discount retailer selling toys, games, and merchandise targeting teens, tweens, kids, and their parents. Consumer spending has proven resilient through the holiday season, and discount retailers such as Five Below are very well positioned for consumers increasingly finding ways to seek value. This has materialized through same-store solid sales growth over the year. Stepping back, Five Below has been a remarkably consistent company over many years and still has a compelling opportunity to more than double its store count over time.”
A family happily shopping for everyday items in a specialty retail store.
Five Below, Inc. (NASDAQ:FIVE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Five Below, Inc. (NASDAQ:FIVE) was held by 33 hedge fund portfolios, down from 30 in the previous quarter, according to our database.
We discussed Five Below, Inc. (NASDAQ:FIVE) in another article and shared Polen U.S. Small Company Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Best Marijuana Stocks To Invest In
- 15 Tips and Tricks To Build Wealth Without Buying Real Estate
- 12 Countries to Get Easy Work Visa in the World
Disclosure: None. This article is originally published at Insider Monkey.
