The London Company, an investment management company, released “The London Company SMID Cap Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 5.0% (-5.1% net) compared to a 4.8% fall in the Russell 2500 Index. A lack of exposure to the Energy sector drove the portfolio’s underperformance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company SMID Cap Strategy highlighted stocks like Broadridge Financial Solutions, Inc. (NYSE:BR) in the third quarter 2023 investor letter. Headquartered in Lake Success, New York, Broadridge Financial Solutions, Inc. (NYSE:BR) is an investor communications and technology-driven solutions provider for the financial services industry. On November 2, 2023, Broadridge Financial Solutions, Inc. (NYSE:BR) stock closed at $178.81 per share. One-month return of Broadridge Financial Solutions, Inc. (NYSE:BR) was -0.49%, and its shares gained 34.00% of their value over the last 52 weeks. Broadridge Financial Solutions, Inc. (NYSE:BR) has a market capitalization of $21.036 billion.
The London Company SMID Cap Strategy made the following comment about Broadridge Financial Solutions, Inc. (NYSE:BR) in its Q3 2023 investor letter:
“Broadridge Financial Solutions, Inc. (NYSE:BR) – BR outperformed, reflecting stronger than expected guidance from management. The stability of the investor communications division (proxy voting, etc.) was a positive despite some client hesitation in Europe. We remain attracted to BR’s portfolio offerings and strategy. Capital spending levels should decrease in the future as the heavy investment period in their integrated wealth platform has ended, which should free up cash flow for other purposes.”
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Broadridge Financial Solutions, Inc. (NYSE:BR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Broadridge Financial Solutions, Inc. (NYSE:BR) at the end of second quarter which was 18 in the previous quarter.
We discussed Broadridge Financial Solutions, Inc. (NYSE:BR) in another article and shared Ensemble Capital Management’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
