Rhizome Partners, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net loss of 1.7% was delivered by the fund for the third quarter of 2021, versus the 0.6% gain of the S&P 500 index and 0.2% gain of the NAREIT index for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Rhizome Partners, in its Q3 2021 investor letter, mentioned The Howard Hughes Corporation (NYSE: HHC) and discussed its stance on the firm. The Howard Hughes Corporation is a The Woodlands, Texas-based real estate development and management company with a $5 billion market capitalization. HHC delivered a 16.81% return since the beginning of the year, while its 12-month returns are up by 24.02%. The stock closed at $92.34 per share on November 24, 2021.
Here is what Rhizome Partners has to say about The Howard Hughes Corporation in its Q3 2021 investor letter:
"The rest of our portfolio hummed along nicely during the quarter. Fundamentals are generally strong. Howard Hughes Corporation is benefiting from net migration to Texas and Nevada. Higher energy prices help as well."
Based on our calculations, The Howard Hughes Corporation (NYSE: HHC) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. HHC was in 25 hedge fund portfolios at the end of the third quarter of 2021, compared to 25 funds in the previous quarter. The Howard Hughes Corporation (NYSE: HHC) delivered a 1.32% return in the past 3 months.
Disclosure: None. This article is originally published at Insider Monkey.