Richie Capital Group, an equity investment firm, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The RCG Select Alpha strategy gained 9.6% and the RCG Long Short strategy gained 13.5% in the fourth quarter, while their respective benchmarks the Russell 2500 Index and the Equity Long Short Index gained 7.4% and 3.2%, respectively. The RCG Select Alpha strategy declined 16.4% while the Long Short strategy gained 2.5% for the full year compared to the 18.4% and 0.03% decline for the respective indexes. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Richie Capital Group highlighted stocks like Fair Isaac Corporation (NYSE:FICO) in its Q4 2022 investor letter. Headquartered in Bozeman, Montana, Fair Isaac Corporation (NYSE:FICO) is an analytics and software company that operates through Scores and Software segments. On April 6, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $672.42 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was -3.45%, and its shares gained 59.65% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $17.231 billion.
Richie Capital Group made the following comment about Fair Isaac Corporation (NYSE:FICO) in its Q4 2022 investor letter:
“Fair Isaac Corporation (NYSE:FICO) (FICO up 45.3%) – The analytic software and data decision technology company continued to fire on all cylinders. FICO reported earnings growth across all metrics and raised guidance. The company is growing revenue faster than expenses, and their capital allocation strategy is focused on reducing share count to such an extent that EPS growth exceeds income growth. Additionally, in light of the slowing real estate market, the company has limited mortgage exposure. Mortgage origination accounts for only 11% of Scores revenue, 5% of total company revenue, and less than 20% of operating profit.”
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Fair Isaac Corporation (NYSE:FICO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of the fourth quarter which was 34 in the previous quarter.
We discussed Fair Isaac Corporation (NYSE:FICO) in another article and shared Headwaters Capital’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.
