Wasatch Global Investors, an investment management firm, published its “Wasatch Core Growth Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the benchmark Russell 2000® Index rose 2.14% while the Russell 2000 Growth Index increased 0.01%. Outperforming its benchmark, the Wasatch Core Growth Fund—Investor Class gained 5.72%. For the one-year period ended December 31, 2021, the Fund’s Investor Class returned 21.03%, which compared favorably to the 14.82% gain in the Russell 2000 Index and the 2.83% increase in the Russell 2000 Growth Index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Wasatch Core Growth Fund, in its Q4 2021 investor letter, mentioned Morningstar, Inc. (NASDAQ: MORN) and discussed its stance on the firm. Morningstar, Inc. is a Chicago, Illinois-based financial services company with an $11.6 billion market capitalization. MORN delivered a -20.85% return since the beginning of the year, while its 12-month returns are up by 19.06%. The stock closed at $270.70 per share on March 03, 2022.
Here is what Wasatch Core Growth Fund has to say about Morningstar, Inc. in its Q4 2021 investor letter:
“The top contributor to Fund performance for the fourth quarter was Morningstar, Inc. (MORN). A financial analytics firm, Morningstar provides research, data, and ratings on mutual funds and other investment vehicles. For the most recent quarter, Morningstar reported steady growth in both revenues and operating income. In our view, the company has a strong lineup of offerings including ESG (environmental, social and governance) data platform Sustainalytics and market research and data provider PitchBook. Recent disclosure shows that Sustainalytics and PitchBook are both growing at rates above 40%, and they present excellent cross-selling opportunities. Based on this disclosure and steady quarter-to-quarter improvement in overall financial results, we feel even more confident in our outlook for Morningstar.”
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Our calculations show that Morningstar, Inc. (NASDAQ: MORN) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. MORN was in 25 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 26 funds in the previous quarter. Morningstar, Inc. (NASDAQ: MORN) delivered a -15.66% return in the past 3 months.
In February 2022, we also shared another hedge fund’s views on MORN in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
