Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned -0.31% net of fees in the fourth quarter compared to a 4.72% return for the Russell 2500 Growth Index. For the full-year 2022, the fund declined 44.95% while the Russell 2500 Growth Index fell 26.21%. Geopolitical uncertainty, inflation, rising interest rates, and concerns about recession impacted the portfolio’s performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen U.S. SMID Company Growth Strategy 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 analytical company that operates through Scores and Software segments. On February 9, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $677.74 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 9.68% and its shares gained 31.19% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $17.048 billion.
Polen U.S. SMID Company Growth Strategy made the following comment about Fair Isaac Corporation (NYSE:FICO) in its Q4 2022 investor letter:
“We exited our position in Fair Isaac Corporation (NYSE:FICO). While this remains an excellent company with a business that has proven to be durable and predictable over many years, the stock’s strong performance in 2022 has led to a relative IRR and risk/reward that is no longer attractive compared to other portfolio holdings. Additionally, this comes at a time when we anticipate a weakening in the business over the coming year, given the changes in financial conditions that are likely to pose material headwinds. We will continue to monitor the business, given its quality characteristics. We would consider adding back the position should the valuation become more aligned with the underlying fundamentals of the business.”
Speedcurve Performance Analytics
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 the list of near monopoly stocks in the US. 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.
