Askeladden Capital Considers its Investment in Franklin Covey (FC) is a Massive Success

Askeladden Capital, an investment management company, released its second quarter 2022 investor letter. A copy of the same can be downloaded here. Year to date, the fund was down 6% net of management fees. It outperformed the benchmark index in the quarter, which was down 7%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Askeladden Capital discussed stocks like Franklin Covey Co. (NYSE:FC) in the second quarter investor letter. Headquartered in Salt Lake City, Utah, Franklin Covey Co. (NYSE:FC) provides training and consulting services. On September 19, 2022, Franklin Covey Co. (NYSE:FC) stock closed at $48.55 per share. One-month return of Franklin Covey Co. (NYSE:FC) was -4.32% and its shares gained 21.38% of their value over the last 52 weeks. Franklin Covey Co. (NYSE:FC) has a market capitalization of $672.811 million.

Here is what Askeladden Capital specifically said about Franklin Covey Co. (NYSE:FC) in its Q2 2022 investor letter:

“This even applies to our investment in Franklin Covey Co. (NYSE:FC) – which has been a massive success over the long-term but wasn’t necessarily the best performer in every environment, or even necessarily the best performer in our investment universe that we understood well. This suggests, to us, that making it a 20-30%+ position at times was unjustified given the substantial incremental risks associated with such a position size.”

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Franklin Covey Co. (NYSE:FC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 20 hedge fund portfolios held Franklin Covey Co. (NYSE:FC) at the end of the second quarter which was 17 in the previous quarter.

We discussed Franklin Covey Co. (NYSE:FC) in another article and shared Five Corners Partner’s views on the company. 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.