Investment management company Polen Capital has announced its first quarter 2024 investor letter “Polen Focus Growth Strategy.” You can download a copy of the same here. The US stock market started 2024 optimistically. The fund returned 8.29% (gross) and 8.09% (net) in the first quarter, compared to 11.41% for the Russell 1000 Growth Index and 10.56% for the S&P 500 Index. Plus, check out the fund’s top 5 holdings to find out the best stocks for 2024.
Polen Focus Growth Strategy featured stocks like Microsoft Corporation (NASDAQ:MSFT) in its Q1 2024 investor letter. Microsoft Corporation (NASDAQ:MSFT), headquartered in Redmond, Washington, is a multinational software company that develops and supports software, services, devices, and solutions. On April 18, 2024, Microsoft Corporation (NASDAQ:MSFT) stock closed at $404.27 per share. His 1-month return for Microsoft Corporation (NASDAQ:MSFT) is -5.71%, and the company’s stock has increased his 41.47% in value over the past 52 weeks. Microsoft Corporation (NASDAQ:MSFT) has a market capitalization of $3,004 billion.
Polen Focus Growth Strategy says this about Microsoft Corporation (NASDAQ:MSFT) in its Q1 2024 investor letter:
“The absolute top contributors are Amazon, Netflix, and microsoft (NASDAQ:MSFT). Despite its massive size, Microsoft continues to experience impressive growth, driven primarily by Azure and related cloud products. We expect generative AI to be a tailwind for the growth of Azure and Microsoft’s Office and Power Apps businesses, but we’re still in the early stages of that journey. ”
A development team working together to create the next version of Windows.
Microsoft Corporation (NASDAQ:MSFT) ranks #1 on the list of 30 most popular stocks among hedge funds. According to our database, Microsoft Corporation (NASDAQ:MSFT) was held by 302 hedge fund portfolios at the end of the fourth quarter, down from 306 at the prior quarter.
We previously covered Microsoft Corporation (NASDAQ:MSFT) in another article and shared a list of the best low-volatility stocks for hedge funds to buy. Additionally, for investor letters from hedge funds and other leading investors, please visit our Hedge Fund Investor Letters Q1 2024 page.
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Disclosure: None. This article was originally published on Insider Monkey.
