Baron Funds, an investment management company, released its “Baron Durable Advantage Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund gained 4.7% (Institutional Shares) compared to a 7.6% gain for the S&P 500 Index. For the full year, the fund declined 24.8% compared to an 18.1% decline for the benchmark. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Durable Advantage Fund highlighted stocks like S&P Global Inc. (NYSE:SPGI) in the fourth quarter 2022 investor letter. Headquartered in New York, New York, S&P Global Inc. (NYSE:SPGI) is a credit ratings, benchmarks, analytics, and workflow solutions provider. On March 8, 2023, S&P Global Inc. (NYSE:SPGI) stock closed at $338.88 per share. One-month return of S&P Global Inc. (NYSE:SPGI) was -6.81%, and its shares lost 11.46% of their value over the last 52 weeks. S&P Global Inc. (NYSE:SPGI) has a market capitalization of $111.559 billion.
Baron Durable Advantage Fund made the following comment about S&P Global Inc. (NYSE:SPGI) in its Q4 2022 investor letter:
“Shares of rating agency and data provider S&P Global Inc. (NYSE:SPGI) increased 10.1% during the quarter as investors looked past weak debt issuance activity and anticipated a potential issuance rebound in 2023. Equity markets rose during the quarter, offering some reprieve to asset-based revenue headwinds. The company also hosted an Investor Day during which management provided medium-term financial guidance of 7% to 9% annual revenue growth and low to mid-teens annual EPS growth. We continue to own the stock due to the company’s durable growth characteristics that are underpinned by the secular trends of increasing bond issuance, growth in passive investing, and demand for data and analytics, while also benefiting from significant competitive advantages.”
S&P Global Inc. (NYSE:SPGI) is in 27th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 97 hedge fund portfolios held S&P Global Inc. (NYSE:SPGI) at the end of the fourth quarter which was 90 in the previous quarter.
We discussed S&P Global Inc. (NYSE:SPGI) in another article and shared the list of best American dividend stocks to buy. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 14 Best American Dividend Stocks to Buy Now
- 10 Hot Growth Stocks to Buy Now
- 11 Best Cryptocurrencies to Invest In for Beginners
Disclosure: None. This article is originally published at Insider Monkey.
