Baron Funds, an investment management company, released its “Baron Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 11.93% (Institutional Shares) compared to a 4.13% return for the Russell 2000 Growth Index and a 7.56% return for the S&P 500 Index. Favourable stock selection led the fund to generate strong absolute and relative performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Growth Fund highlighted stocks like FactSet Research Systems Inc. (NYSE:FDS) in the Q4 2022 investor letter. Headquartered in Norwalk, Connecticut, FactSet Research Systems Inc. (NYSE:FDS) is a financial data and analytics company. On February 22, 2023, FactSet Research Systems Inc. (NYSE:FDS) stock closed at $422.36 per share. One-month return of FactSet Research Systems Inc. (NYSE:FDS) was 2.06%, and its shares gained 7.20% of their value over the last 52 weeks. FactSet Research Systems Inc. (NYSE:FDS) has a market capitalization of $16.156 billion.
Baron Growth Fund made the following comment about FactSet Research Systems Inc. (NYSE:FDS) in its Q4 2022 investor letter:
“Despite growing warnings of a recession, the businesses in which we have invested have generally continued to report strong financial results. We have investments in several businesses that reported financial results in December and, therefore, offer recent publicly available data points. Market data vendor FactSet Research Systems Inc. (NYSE:FDS) generated earnings growth of 22.8% for its most recent quarter, which represents an acceleration from 8.7% in the prior quarter and approximately 20% during the prior year. FactSet is reaping the benefits of a multi-year investment cycle and unwavering focus on customer service to bring new products to market, consolidate spending from competitors, and realize price increases. FactSet’s new CFO has imbued the company with a vigorous expense discipline, which is favorably impacting margins.”
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FactSet Research Systems Inc. (NYSE:FDS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held FactSet Research Systems Inc. (NYSE:FDS) at the end of the fourth quarter which was 31 in the previous quarter.
We discussed FactSet Research Systems Inc. (NYSE:FDS) in another article and shared Baron Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.
