Weitz Investment Management, an investment management firm, published its “Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. In its letter, the fund mentioned that it knows very little in economics, politics, and investor psychology is predictable. The fund believes, though, that business value is (roughly) measurable and that it (eventually) exerts a gravitational pull on a company’s stock price. According to Weitz Investment, when confidence is shaken and markets are volatile, active managers have the raw material they need to add value for investors. We’re looking forward to an interesting year. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
Weitz Investment Management, in its Q4 2021 investor letter, mentioned Fidelity National Financial, Inc. (NYSE: FNF) and discussed its stance on the firm. Fidelity National Financial, Inc. is a Jacksonville, Florida-based title insurance company with a $14.1 billion market capitalization. FNF delivered a -4.60% return since the beginning of the year, while its 12-month returns are up by 37.13%. The stock closed at $49.78 per share on January 28, 2022.
Here is what Weitz Investment Management, Inc. has to say about Fidelity National Financial, Inc. in its Q4 2021 investor letter:
“Another in this category, Fidelity National Information Services, has a very stable, growing, mission-critical software business serving banks. It entered the payments business a few years ago and is now being painted in the same light as other payment stocks. We think that global spending will eventually revert to its trend line. Further, payments companies’ revenues are generally a function of payment volume, so revenues are indexed to inflation while expenses rise more slowly. This is great for profit margins. We expect all three of these companies to be excellent contributors to our results over the next few years.”
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Our calculations show that Fidelity National Financial, Inc. (NYSE: FNF) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. FNF was in 32 hedge fund portfolios at the end of the third quarter of 2021, compared to 34 funds in the previous quarter. Fidelity National Financial, Inc. (NYSE: FNF) delivered a 3.90% return in the past 3 months.
In April 2021, we also shared another hedge fund’s views on FNF 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.
