Madison Funds’ Largest Contributor: Black Knight (BKI)

Madison Funds, managed by Madison Asset Management, LLC, released its “Madison Mid Cap Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. During the quarter, the fund declined 10.9% compared to a decline of 16.9% for the Russell Midcap Index. In the quarter, insurance companies in the portfolio performed well and contributed to the fund’s performance. In addition, you can check the top 5 holdings of the fund to learn about its best picks in 2022.

Madison Funds discussed stocks like Black Knight, Inc. (NYSE:BKI) in the second quarter investor letter. Headquartered in Jacksonville, Florida, Black Knight, Inc. (NYSE:BKI) is an integrated software data analytics solutions provider. On September 22, 2022, Black Knight, Inc. (NYSE:BKI) stock closed at $67.00 per share. One-month return of Black Knight, Inc. (NYSE:BKI) was -1.02% and its shares lost 5.41% of their value over the last 52 weeks. Black Knight, Inc. (NYSE:BKI) has a market capitalization of $10.454 billion.

Here is what Madison Funds specifically said about Black Knight, Inc. (NYSE:BKI) in its Q2 2022 investor letter:

Black Knight, Inc. (NYSE:BKI) is the largest provider of software for the mortgage servicing industry. In May, it announced an agreement to be acquired by Intercontinental Exchange at a substantial premium to its unaffected public market valuation. We believe the offer represents fair value for the company.”

Software

Black Knight, Inc. (NYSE:BKI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held Black Knight, Inc. (NYSE:BKI) at the end of the second quarter which was 43 in the previous quarter.

We discussed Black Knight, Inc. (NYSE:BKI) in another article and shared Weitz Investment Management’s views on the company. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

Disclosure: None. This article is originally published at Insider Monkey.