Giverny Capital Asset Management, LLC, an investment management company, recently published its first-quarter 2023 investor letter. A copy of the same can be downloaded here. The model portfolio of the firm appreciated 6.06%, net of fees in the first quarter compared to a 7.50% return for the Standard & Poor’s 500 Index. For the year ended March 31, 2023, the portfolio returned -10.62% compared to -7.73% for the benchmark, net of fees. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Giverny Capital highlighted stocks like SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the first quarter 2023 investor letter. Headquartered in Windsor, Connecticut, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is a software products and software-enabled services provider to the financial and healthcare sectors. On April 26, 2023, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) stock closed at $54.96 per share. One-month return of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was -0.96%, and its shares lost 20.39% of their value over the last 52 weeks. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has a market capitalization of $13.71 billion.
Giverny Capital made the following comment about SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in its Q1 2023 investor letter:
“We sold a small amount of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC). I like this business and its founder-CEO Bill Stone but have been a bit disappointed with the heavy use of floating-rate debt to finance acquisitions. We’ve generated a good absolute return over three years, though below my expectations relative to the S&P 500. We own an eclectic collection of high-quality companies, with a low level of debt across the portfolio and a high level of exposure to founder- or family-managed businesses.”
VILevi/Shutterstock.com
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 43 hedge fund portfolios held SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) at the end of the fourth quarter which was 50 in the previous quarter.
We discussed SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in another article and shared the list of largest software companies in the world by revenue. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 25 Biggest Companies in Europe by Employees
- 11 Best Metaverse Stocks To Invest In
- 11 Best Mid-Cap Healthcare Stocks To Buy Now
Disclosure: None. This article is originally published at Insider Monkey.
