Baron Funds, an investment management company, released its “Baron Asset Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund increased by 12.21% in the fourth quarter, outperforming the Russell Midcap Growth Index which returned 6.90%. Stock selection and underexposure to stocks with high measures of Residual Volatility and Beta led the fund to outperform in the quarter. For 2022, the fund fell 25.87% compared to a -26.72% return for the Russell Midcap Growth Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Baron Asset Fund 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 February 10, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $679.73 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 10.00%, and its shares gained 32.66% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $17.098 billion.
Baron Asset Fund made the following comment about Fair Isaac Corporation (NYSE:FICO) in its Q4 2022 investor letter:
“Fair Isaac Corporation (NYSE:FICO) is a data, analytics, and software company offering various solutions to assist businesses in predicting consumer behavior. The company contributed to performance after reporting impressive quarterly earnings despite macroeconomic headwinds. Management also provided robust earnings guidance for 2023 that was well ahead of Wall Street expectations. Investors are beginning to appreciate that the company’s software division has the potential to soon add meaningfully to profitability. We believe Fair Isaac will be a steady earnings compounder, which should drive solid returns for the stock over a multi-year period.”
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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, 34 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of the third quarter, which was 35 in the previous quarter..
We discussed Fair Isaac Corporation (NYSE:FICO) in another article and shared Polen U.S. SMID Company Growth Strategy’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.
