Polen Capital, an investment management company, released its “Polen U.S. Small Company Growth Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -25.81% net of fees compared to a -19.25% return for the Russell 2000 Growth Index. The fund underperformed in the second quarter due to a widespread economic slowdown. In addition, please check the fund’s top five holdings to know its best picks in 2022.
In the second quarter 2022 investor letter, Polen Capital discussed stocks like Bumble Inc. (NASDAQ:BMBL). Headquartered in Austin, Texas, Bumble Inc. (NASDAQ:BMBL) is an online dating and social networking platform provider. On September 29, 2022, Bumble Inc. (NASDAQ:BMBL) stock closed at $21.90 per share. One-month return of Bumble Inc. (NASDAQ:BMBL) was -11.16% and its shares lost 57.13% of their value over the last 52 weeks. Bumble Inc. (NASDAQ:BMBL) has a market capitalization of $4.043 billion.
Here is what Polen Capital specifically said about Bumble Inc. (NASDAQ:BMBL) in its Q2 2022 investor letter:
"Online dating company Bumble Inc. (NASDAQ:BMBL) has been successfully executing its core strategic priorities focused on driving scale and engagement, monetization, and profitability. We are excited about the market potential for online dating and believe Bumble can take share and leverage its brand in adjacent categories. This is a category we believe should be resilient no matter what happens with the economy."
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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 list of social media stocks getting hammered. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.