Investment management company Ave Maria recently released its “Ave Maria World Equity Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. At the end of the second quarter, the fund returned -14.19% compared to -15.66% for MSCI All Country World Index. Poor performance of large global markets affected the fund’s performance. You can check the top 5 holdings of the fund to know its best picks in 2022.
Ave Maria discussed stocks like First Horizon Corporation (NYSE:FHN) in the second quarter investor letter. Headquartered in Memphis, Tennessee, First Horizon Corporation (NYSE:FHN) is a banking company. On August 24, 2022, First Horizon Corporation (NYSE:FHN) stock closed at $22.87 per share. One-month return of First Horizon Corporation (NYSE:FHN) was 1.64% and its shares gained 40.22% of their value over the last 52 weeks. First Horizon Corporation (NYSE:FHN) has a market capitalization of $12.272 billion.
Here is what Ave Maria specifically said about First Horizon Corporation (NYSE:FHN):
“First Horizon Corporation (NYSE:FHN) is a leading regional bank that merged with IBERIABANK Corporation in 2020 forming a regional financial services company with 412 branches across 12 southern states. On February 28, 2022, The Toronto-Dominion Bank (TD Bank) reached an agreement with First Horizon Corporation to acquire the bank for $25 per share.”
First Horizon Corporation (NYSE:FHN) is not on the list of 30 Most Popular Stocks Among Hedge Funds. First Horizon Corporation (NYSE:FHN) was held by 43 hedge fund portfolios at the end of the second quarter compared to 44 in the previous quarter.
We discussed First Horizon Corporation (NYSE:FHN) in another article and shared the list of stocks to buy according to Carlson Capital. You can check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other prominent investors.
Disclosure: None. This article is originally published at Insider Monkey.