Ensemble Capital Management, an investment management company, released its first quarter 2024 investor letter. A copy of the same can be downloaded here. During the quarter, the strategy gained 10.48% compared to the S&P 500’s 10.56% return. The stock market rallied by 10.56% in Q1 2024, adding to the 11.69% rally in Q4 2023. The strategy performed in line with the S&P 500 returns this quarter after outperforming last quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.
Ensemble Capital Management featured stocks like Broadridge Financial Solutions, Inc. (NYSE:BR) in the first quarter 2024 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 April 15, 2024, Broadridge Financial Solutions, Inc. (NYSE:BR) stock closed at $195.67 per share. One-month return of Broadridge Financial Solutions, Inc. (NYSE:BR) was -3.25%, and its shares gained 34.18% of their value over the last 52 weeks. Broadridge Financial Solutions, Inc. (NYSE:BR) has a market capitalization of $23.044 billion.
Ensemble Capital Management stated the following regarding Broadridge Financial Solutions, Inc. (NYSE:BR) in its first quarter 2024 investor letter:
“Broadridge Financial Solutions, Inc. (NYSE:BR): Broadridge’s stock was flat during the quarter but given its large size in our portfolio and the sharp rally in the overall market, it ended up being one of the larger drags on our portfolio. But the flat return for the quarter is no concern to us, given the stock rallied 56% in 2023 and the company’s investor day held in December highlighted their strong multiyear outlook and heavy investments in technology.”
An experienced investor analyzing the performance of his portfolio against the S&P National Municipal Bond Index.
Broadridge Financial Solutions, Inc. (NYSE:BR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Broadridge Financial Solutions, Inc. (NYSE:BR) was held by 25 hedge fund portfolios, compared to 22 in the previous quarter, according to our database.
We previously discussed Broadridge Financial Solutions, Inc. (NYSE:BR) in another article, where we shared The London Company’s perspective on the company. In addition, please check out our hedge fund investor letters Q1 2024 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.
