Weitz Investment Management, a boutique employee-owned firm, published its ‘Weitz Partners III Opportunity Fund’ third-quarter 2020 Investor Letter – a copy of which can be downloaded here. A return of 7.59% was recorded by the fund for the Q3 of 2020, below both its S&P 500 benchmark that returned 8.93% and the Russell 3000 Index that returned 9.21%. You can view the fund’s top 10 holdings to have a peek at their top bets for 2021.
Weitz Partners, in their Q3 2020 Investor Letter said that they decreased their positions in The Liberty SiriusXM Group (NASDAQ: LSXMA) because of temporary pullbacks but still maintains a bullish long term projection for the company. The Liberty SiriusXM Group is an e-commerce media company that currently has a $15.6 billion market cap. For the past 3 months, LSXMA delivered a 14.49% return and settled at $40.94 per share at the closing of January 19th.
Here is what Weitz Partners has to say about The Liberty SiriusXM Group in their Investor Letter:
“Liberty SiriusXM remains on the laggards list predominantly due to its difficult performance in the first calendar quarter. Currently Liberty/SiriusXM shares trade at a sizeable discount to where we think they should trade, given the market price of the underlying SiriusXM shares. We believe that Liberty SiriusXM management will unlock that discount over time, but in the meantime, we have shorted a portion of our position’s underlying SiriusXM shares as to monetize some of that discount for ourselves. We continue to be longterm believers in SiriusXM’s business, and we remain net long on Liberty/SiriusXM on an economic basis.”
Last December 2020, we published an article telling that The Liberty SiriusXM Group (NASDAQ: LSXMA) was in 42 hedge fund portfolios. Its all time high statistics is 50. LSXMA delivered a -5.21% return YTD.
Our calculations showed that The Liberty SiriusXM Group (NASDAQ: LSXMA) does not belong to 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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