Weitz Investment Management: “Alphabet (GOOG) Shows No Sign of Slowing”

Weitz Investment Management, an investment management firm, published its “Partners III Opportunity Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. A return of -0.06% was recorded by the fund in the third quarter of 2021, compared to +0.58% for the S&P 500 and -0.10% for the Russell 3000 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.

Weitz Investment Management Partners III Opportunity Fund, in its Q3 2021 investor letter, mentioned Alphabet Inc. (NASDAQ: GOOG) and discussed its stance on the firm. Alphabet Inc. is a Mountain View, California-based multinational technology conglomerate holding company with a $1.9 trillion market capitalization. GOOG delivered a 71.19% return since the beginning of the year, while its 12-month returns are up by 72.14%. The stock closed at $3,014.18 per share on November 19, 2021.

Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Alphabet Inc. in its Q3 2021 investor letter:

“Our nearly unchanged result this quarter was reminiscent of a balanced scale, with two or three weights on each plate (our top contributors and detractors) practically leveling both sides of the scale. Returns for the bulk of our portfolio were within a narrow band hugging either side of zero, with relatively few securities delivering outsized positive or negative results… Finally, Google parent Alphabet continued its terrific 2021 as the digital advertising giant shows no sign of slowing.”

Photo by Firmbee.com on Unsplash

Based on our calculations, Alphabet Inc. (NASDAQ: GOOG) ranks 7th in our list of the 30 Most Popular Stocks Among Hedge Funds. GOOG was in 155 hedge fund portfolios at the end of the first half of 2021, compared to 159 funds in the previous quarter. Alphabet Inc. (NASDAQ: GOOG) delivered an 8.32% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.