Here’s Why LPL Financial Holdings (LPLA) Outperformed in the Third Quarter

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund delivered negative returns. The portfolio recorded impressive gains at the beginning of the quarter. In contrast, there was a disappointing selloff at the end of the quarter. The Russell Midcap Growth Index was 0.65% down compared to a 4.92% decline for its counterpart, the Russell Midcap Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

In the third-quarter letter, Carillon Tower Advisers discussed stocks like LPL Financial Holdings Inc. (NASDAQ:LPLA). Based in San Diego, California, LPL Financial Holdings Inc. (NASDAQ:LPLA) is an integrated platform provider for brokerage and investment advisory services. On October 27, 2022, LPL Financial Holdings Inc. (NASDAQ:LPLA) stock closed at $252.34 per share. One-month return of LPL Financial Holdings Inc. (NASDAQ:LPLA) was 16.57% and its shares gained 54.42% of their value over the last 52 weeks. LPL Financial Holdings Inc. (NASDAQ:LPLA) has a market capitalization of $20.129 billion.

Carillon Tower Advisers made the following comment about LPL Financial Holdings Inc. (NASDAQ:LPLA) in its Q3 2022 investor letter:

LPL Financial Holdings Inc. (NASDAQ:LPLA) is an independent broker-dealer that offers technology, brokerage, and investment advisory services to financial professionals and institutions. The firm’s shares continued their streak of steady outperformance due to the earnings leverage associated with the aggressive and ongoing U.S. Federal Reserve (Fed) policy that has resulted in interest rates rising dramatically and quickly. LPL also largely avoids the potential uptick in credit risk that is often experienced by more traditional banks in periods of economic stress.”

Finance, Investments

Finance, Investments

LPL Financial Holdings Inc. (NASDAQ:LPLA) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held LPL Financial Holdings Inc. (NASDAQ:LPLA) at the end of the second quarter, which was 47 in the previous quarter.

We discussed LPL Financial Holdings Inc. (NASDAQ:LPLA) in another article and shared Baron Funds’ views on the company. In addition, please check out our hedge fund investor letters Q3 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.