Headwaters Capital Management, an investment management company, released its fourth-quarter 2023 investor letter. A copy of the same can be downloaded here. The fund increased by +18.1% (+17.1% net) in the fourth quarter compared to a +12.8% return for the Russell Mid Cap Index. For the full year, the fund returned +34.8% (+33.0% net) compared to a +17.2% return for the index. The extraordinary strength of the fourth quarter 2023 market returns was fueled by investor optimism that inflation is moderating and the Fed’s clear signal that rate cuts are expected to start in 2024. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Headwaters Capital Management featured stocks such as Fair Isaac Corporation (NYSE:FICO) in the fourth quarter 2023 investor letter. Headquartered in Bozeman, Montana, Fair Isaac Corporation (NYSE:FICO) develops decision management solutions to help businesses automate, enhance, and connect decisions. On January 18, 2024, Fair Isaac Corporation (NYSE:FICO) stock closed at $1,250.42 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 7.29%, and its shares gained 100.43% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $31.055 billion.
Headwaters Capital Management stated the following regarding Fair Isaac Corporation (NYSE:FICO) in its fourth quarter 2023 investor letter:
“Top Contributor: Fair Isaac Corporation (NYSE:FICO) (“FICO”) +34%: FICO’s stock outperformed during Q4 primarily due to pricing increases for their scores product that outpaced expectations. While the scores pricing increases have been strong for FICO over the last few years, the cost of the score relative to the value created for the broader consumer credit ecosystem still remains miniscule.”
A professional financial analyst studying data on a computer, illustrating the company’s index investment decisions.
Fair Isaac Corporation (NYSE:FICO) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of third quarter which was 46 in the previous quarter.
We discussed Fair Isaac Corporation (NYSE:FICO) in another article and shared the list of best performing S&P 500 stocks in the last 10 years. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- Wall Street Analysts See Upside Potential for 10 Stocks with Rising Price Targets
- 15 States With the Highest Income Taxes in the US
- 16 States with Income Tax Cuts in 2024
Disclosure: None. This article is originally published at Insider Monkey.
