Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned 1.44% net of fees in the third quarter compared to -0.12% return for the Russell 2500 Growth Index. Stock selection is a significant factor in the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen Capital discussed stocks like Bumble Inc. (NASDAQ:BMBL) in the Q3 2022 investor letter. Headquartered in Austin, Texas, Bumble Inc. (NASDAQ:BMBL) is an online dating and social networking platform provider. On October 26, 2022, Bumble Inc. (NASDAQ:BMBL) stock closed at $23.49 per share. One-month return of Bumble Inc. (NASDAQ:BMBL) was 7.26% and its shares lost 56.59% of their value over the last 52 weeks. Bumble Inc. (NASDAQ:BMBL) has a market capitalization of $4.336 billion.
Polen Capital made the following comment about Bumble Inc. (NASDAQ:BMBL) in its Q3 2022 investor letter:
“The activity this quarter included two new initiations along with modest adds and trims to existing positions. During this period, we initiated new positions in Euronet Worldwide and Bumble Inc. (NASDAQ:BMBL).
Bumble is an online dating platform with top-ranking apps including Bumble, Badoo, and Fruitz. We are excited about the market potential for online dating, which has been growing in popularity but is still underpenetrated in many markets. It’s still early days for Bumble to benefit from the category growth and expand internationally. Bumble is competitively advantaged because the company empowers women to make the first move, driving a strong brand and compelling customer unit economics. Longer term, we are excited about the opportunity for Bumble to take a share in dating and leverage its brand in other categories."
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Bumble Inc. (NASDAQ:BMBL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Bumble Inc. (NASDAQ:BMBL) at the end of the second quarter which was 17 in the previous quarter.
We discussed Bumble Inc. (NASDAQ:BMBL) in another article and shared the best young stocks to buy and hold for the next 20 years. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.