Aristotle Capital Management, LLC, an investment management company, released its “Aristotle Core Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund returned -17.49% at NAV, underperforming the S&P 500 Index, which returned -16.10%. The underperformance of the fund was attributed to the stock selection. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Aristotle Capital discussed stocks like Fidelity National Information Services, Inc. (NYSE:FIS) in the second quarter 2022 investor letter. Headquartered in Jacksonville, Florida, Fidelity National Information Services, Inc. (NYSE:FIS) is a technology solution-providing company. On October 7, 2022, Fidelity National Information Services, Inc. (NYSE:FIS) stock closed at $77.10 per share. One-month return of Fidelity National Information Services, Inc. (NYSE:FIS) was -17.14% and its shares lost 33.46% of their value over the last 52 weeks. Fidelity National Information Services, Inc. (NYSE:FIS) has a market capitalization of $46.875 billion.
Here is what Aristotle Capital specifically said about Fidelity National Information Services, Inc. (NYSE:FIS) in its Q2 2022 investor letter:
“We sold our position in about Fidelity National Information Services, Inc. (NYSE:FIS), thereby, reducing our exposure to the payments processing space within the Fund. While the first half of 2022 for Fidelity National Information Services should show improving trends in the merchant space due to better Small-to-Medium Business (SMB) and travel industry metrics, we are focusing our concerns on the impact of rising inflation on the second half of 2022 trends. The concern we see is that inflation will begin to impact the purchasing power of consumers and merchant processors, like Fidelity, and will see a slowdown in the growth rate of transaction volumes.”
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Fidelity National Information Services, Inc. (NYSE:FIS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 67 hedge fund portfolios held Fidelity National Information Services, Inc. (NYSE:FIS) at the end of the second quarter which was 68 in the previous quarter.
We discussed Fidelity National Information Services, Inc. (NYSE:FIS) in another article and shared the list of the best financial stocks to buy. In addition, please check out our hedge fund investor letters Q2 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.
