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Ollie’s Bargain Outlet (OLLI) Shines in Artisan Small Cap’s Q1 Portfolio

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Artisan Partners, a high value-added investment management firm, published its ‘Artisan Small Cap Fund’ first quarter 2021 investor letter – a copy of which can be downloaded here. A return of -5.02% was recorded by its Investor Class: ARTSX, -4.99% by its Advisor Class: APDSX, and -4.95% by its Institutional Class: APHSX for the fourth quarter of 2020, all below the Russell 2000® Growth Index that delivered a 4.88% return and the Russell 2000® Index that was up by 12.70% for the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.

Artisan Small Cap Fund, in its Q1 2021 investor letter, mentioned Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI), and shared their insights on the company. Ollie's Bargain Outlet Holdings, Inc. is a Harrisburg, Pennsylvania-based discount store company that currently has a $5.2 billion market capitalization. Since the beginning of the year, OLLI delivered a -2.36% return, while its 12-month gains are up by 1.26%. As of May 17, 2021, the stock closed at $79.84 per share.

Here is what Artisan Small Cap Fund has to say about Ollie's Bargain Outlet Holdings, Inc. in its Q1 2021 investor letter:

"Shares of Ollie’s rallied in Q1 primarily due to significant short covering—short interest was ~20% of outstanding float at the beginning of the quarter versus ~13% at the end of Q1. Our longer-term fundamental view on the company has not changed: Ollie’s unique operating model and significant new-store growth opportunity are compelling profit-cycle drivers. However, with shares approaching our estimate of private market value and difficult growth comparisons looming this year, we exercised our valuation discipline and ended our successful investment campaign."

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Our calculations show that Ollie's Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the fourth quarter of 2020, Ollie's Bargain Outlet Holdings, Inc. was in 21 hedge fund portfolios, compared to 34 funds in the third quarter. OLLI delivered a -15.82% return in the past 3 months.

The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 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. Here you can watch our video about 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 is originally published at Insider Monkey.