Here’s Why The London Company Small-Mid Cap Strategy Increased its Stake Broadridge Financial Solutions (BR)

The London Company, an investment management company, released “The London Company Small-Mid Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 5% gross, (4.8% net) compared to a 3.4% return for the Russell 2500 Index. Sector allocation was a tailwind for the outperformance of the fund in the quarter, while stock selection slightly impacted the relative performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

The London Company Small-Mid Cap Strategy highlighted stocks like Broadridge Financial Solutions, Inc. (NYSE:BR) in the first quarter 2023 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 June 30, 2023, Broadridge Financial Solutions, Inc. (NYSE:BR) stock closed at $165.63 per share. One-month return of Broadridge Financial Solutions, Inc. (NYSE:BR) was 8.08%, and its shares gained 13.12% of their value over the last 52 weeks. Broadridge Financial Solutions, Inc. (NYSE:BR) has a market capitalization of $19.541 billion.

The London Company Small-Mid Cap Strategy made the following comment about Broadridge Financial Solutions, Inc. (NYSE:BR) in its first quarter 2023 investor letter:

“Increased: Broadridge Financial Solutions, Inc. (NYSE:BR) – Added to position using proceeds from STOR acquisition. Addition reflects our conviction in the long-term thesis for BR.”

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Broadridge Financial Solutions, Inc. (NYSE:BR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Broadridge Financial Solutions, Inc. (NYSE:BR) at the end of first quarter 2023 which was 24 in the previous quarter.

We discussed Broadridge Financial Solutions, Inc. (NYSE:BR) in another article and shared Wedgewood Partners’ views on the company. In addition, please check out our hedge fund investor letters Q1 2023 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.