Weitz Investment Management’s Top Q3 Detractor: Dun and Bradstreet (DNB)

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 Dun & Bradstreet Holdings, Inc. (NYSE: DNB) and discussed its stance on the firm. Dun & Bradstreet Holdings, Inc. is a Millburn, New Jersey-based commercial data, analytics, and insights provider with an $8.1 billion market capitalization. DNB delivered a -23.82% return since the beginning of the year, while its 12-month returns are down by -30.74%. The stock closed at $19.59 per share on November 19, 2021.

Here is what Weitz Investment Management Partners III Opportunity Fund has to say about Dun & Bradstreet Holdings, Inc. in its Q3 2021 investor letter:

“On the other side of the scale, Dun & Bradstreet was the Fund’s top quarterly detractor. In our first quarter commentary, we introduced Dun & Bradstreet to the portfolio and described some of the actions already taken to improve its operations and enhance the value delivered to customers. We remain confident in management and their strategic direction, but we acknowledge that the process will take time.”

Based on our calculations, Dun & Bradstreet Holdings, Inc. (NYSE: DNB) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. DNB was in 45 hedge fund portfolios at the end of the first half of 2021, compared to 29 funds in the previous quarter. Dun & Bradstreet Holdings, Inc. (NYSE: DNB) delivered a 4.12% return in the past 3 months.

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