Third Avenue Management, a disciplined, value-oriented asset manager and investment fund, published its third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 10.94% was recorded by the fund for the 3rd Quarter of 2020, ahead of its FTSE EPRA NAREIT Developed benchmark that returned 10.32%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Third Avenue Management in their Q3 2020 Investor Letter said that they sold some shares of AMERCO (NASDAQ: UHAL) and used the earnings in acquiring a new investment position. AMERCO is an insurance company that currently has a $9.2 billion market cap. For the past 3 months, AMH delivered a 31.90% return and settled at $473.17 per share at the closing of January 15th.
Here is what Third Avenue Management has to say about AMERCO in their Investor Letter:
“During the period, the Fund reduced its exposure to the common stock of AMERCO.– The proceeds from this reduction was primarily used to fund a new investment position.”
Last December 2020, we published an article telling that AMERCO (NASDAQ: UHAL) was in 19 hedge funds’ portfolio. Its all time high statistics is 28. AMERCO proved its worth by giving a 24.30% return in the past 12 months.
As of September 2020, Third Avenue Management had a 58K share position in UHAL that amounted to $20.7 million. This made Third Avenue Management a part of the top 6 hedge funds that holds most of UHAL’s stake, just behind AQR Capital Management with $68.9 million worth of UHAL shares, while Abrams Capital Management tops the list with $199.7 million. However, our calculations showed that AMERCO (NASDAQ: UHAL) isn’t ranked among the 30 most popular stocks among hedge funds.
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
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