Old West Investment Management LLC, an investment management firm, has released its fourth quarter 2020 letter to investors – a copy of which can be downloaded here. In the letter, the fund stated that its LP strategies generated an average return of 65% and that their SMA strategies generated an average return of 66%. You can take a look at the top 5 holdings of the fund to get an overview of their top bets for 2021.
Old West Investment Management, in its fourth quarter 2020 letter to investors, mentioned Zedge, Inc. (NYSE: ZDGE) and underlined its take on the company. Zedge, Inc. is a United States-based content distribution platform that currently has a market capitalization of $ 165.7 million. Since the start of the year, ZDGE has generated a decent return of 104.97%, massively extending its 12-month gains to an impressive 1275.54%. As of March 26, 2021, the stock closed at $ 12.11 per share.
Here’s what Old West Investment Management has to say about Zedge, Inc. in its Q4 2020 letter to investors:
âLast year, Zedge (ZDGE), another very successful company, operated worldwide as a content distribution platform. Old West partner Joe Boskovich Jr. has followed serial entrepreneur Howard Jonas’ career closely, and ZDGE is just one of many holdings. We first invested in ZDGE at $ 3 per share, saw it drop to $ 0.66, and our patience paid off as the stock ended the year at $ 6. “
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Our calculations show that Zedge, Inc. (NYSE: ZDGE) does not make our list of the 30 most popular stocks among hedge funds. At the end of the fourth quarter of 2020, Zedge, Inc. was listed in 5 hedge fund portfolios, compared to 3 funds in the third quarter. ZDGE has generated a return of 133.14% in the past 3 months.
The 10 largest stocks among hedge funds returned 231.2% between 2015 and 2020 and outperformed S&P 500 Index ETFs by more than 126 percentage points. We know it sounds amazing. You rejected our articles on major hedge fund stocks mainly because other media provided you with biased information about poor performance of hedge funds. You could have doubled the size of your nest egg by investing in the best hedge fund stocks instead of stupid S&P 500 ETFs. Here you can watch our video on the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: none. This article originally appeared on Insider Monkey.