Argosy Investors, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be downloaded here. The fund’s 2022 first-quarter performance was -15.1% in select accounts. The S&P 500 by comparison returned -4.4%. Argosy ended the quarter with 43% of the portfolio in cash and equivalents, which means that these results would have been worse without the allocation to cash. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, Argosy Investors mentioned VIZIO Holding Corp. (NYSE:VZIO) and explained its insights for the company. Founded in 2002, VIZIO Holding Corp. (NYSE:VZIO) is an Irvine, California-based technology company with a $1.7 billion market capitalization. VIZIO Holding Corp. (NYSE:VZIO) delivered a -53.37% return since the beginning of the year, while its 12-month returns are down by -57.28%. The stock closed at $9.06 per share on June 17, 2022.
Here is what Argosy Investors has to say about VIZIO Holding Corp. (NYSE:VZIO) in its Q1 2022 investor letter:
“Reviewing Vizio (NYSE:VZIO), we purchased it quite recently and it has declined precipitously in our brief period of ownership. They have an explicit strategy to sacrifice gross margins from their TVs to further develop the audience for their smart TV offering, a competitor to Roku. I purchased the shares expecting the thesis to play out over a number of years, so I intend to monitor the company and its results as we move forward. Their first quarter results reflected strength in their Platform (Smart TV) segment, which will be their primary source of profit going forward. Further, the news that Netflix and other streaming companies are considering subscriptions that include advertising is positive news. In some ways, what is old is new again, as this development is somewhat of a return to the dual-revenue-stream model cable TV channels use. The shift towards more streaming programming including advertisements is a positive for Vizio, since they may be able to monetize the ads directly or indirectly. I’ll keep you posted on their progress.”
Our calculations show that VIZIO Holding Corp. (NYSE:VZIO) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. VIZIO Holding Corp. (NYSE:VZIO) was in 17 hedge fund portfolios at the end of the first quarter of 2022, compared to 19 funds in the previous quarter. VIZIO Holding Corp. (NYSE:VZIO) delivered a -3.82% return in the past 3 months.
In April 2022, we also shared another hedge fund’s views on VIZIO Holding Corp. (NYSE:VZIO) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
