Investment management company LVS Advisory, a New York City-based full-service investment firm, recently released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The defensive portfolio of the fund gained 3.8% (net of all fees and expenses) for the full year. It outperformed its benchmark, Barclays High-Yield Bond Index, by 15.2%. However, its Growth Portfolio declined by 35.8% (net of all fees and expenses) for the same period. For more information on the fund’s top picks in 2022, please check its top five holdings.
LVS Advisory highlighted stocks like BlackRock, Inc. (NYSE:BLK) in its Q4 2022 investor letter. BlackRock, Inc. (NYSE:BLK) is a New York based investment manger. On January 5, 2023, BlackRock, Inc. (NYSE:BLK) stock closed at $701.24 per share. One-month return of BlackRock, Inc. (NYSE:BLK) was -0.81%, and its shares lost 21.41% of their value over the last 52 weeks. BlackRock, Inc. (NYSE:BLK) has a market capitalization of $105.323 billion.
LVS Advisory made the following comment about BlackRock, Inc. (NYSE:BLK) in its Q4 2022 investor letter:
“We purchased shares of BlackRock, Inc. (NYSE:BLK). BlackRock is one of the world’s largest investment managers, a business I know something about. BlackRock is an investment powerhouse as it has a leading position in virtually every category and has been gaining market share over time.
BlackRock is competitively advantaged because it has industry-leading technology (Aladdin platform) that enables investment organizations to outsource most of the back-office. Also, the company’s industry-leading scale allows it to price its investment products competitively while retaining more profitability. The combination of leading tech and lower prices makes it very difficult to compete against BlackRock. Furthermore, we believe that investors misunderstand the pricing headwinds in the ETF market by mistaking FX headwinds and mix shift for “fee compression”. We have a differentiated view that BlackRock will see more robust advisory fee rates than the market currently expects…”(Click here to read the full text)
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BlackRock, Inc. (NYSE:BLK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 46 hedge fund portfolios held BlackRock, Inc. (NYSE:BLK) at the end of the third quarter which was 50 in the previous quarter.
We discussed BlackRock, Inc. (NYSE:BLK) in another article and shared the list of undervalued wide moat stocks to invest in. 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.
