Headwaters Capital Management, an investment management company, released its fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio gained 7.2% (gross) in the fourth quarter compared to a 9.2% return for the Russell Mid Cap Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Headwaters Capital 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 analytics and software company that operates through Scores and Software segments. On February 21, 2023, Fair Isaac Corporation (NYSE:FICO) stock closed at $665.00 per share. One-month return of Fair Isaac Corporation (NYSE:FICO) was 3.45%, and its shares gained 46.22% of their value over the last 52 weeks. Fair Isaac Corporation (NYSE:FICO) has a market capitalization of $16.728 billion.
Headwaters Capital made the following comment about Fair Isaac Corporation (NYSE:FICO) in its Q4 2022 investor letter:
“Top Contributor: Fair Isaac Corporation (NYSE:FICO) +45%. FICO outperformed in Q4 as the market finally received clarity on whether the FHFA would continue to require the use of FICO scores in the mortgage origination process. Contrary to what some investors expected, the FHFA announced that it would require a FICO score (as well as a Vantage score) to be used in all mortgage originations. The pending FHFA decision had been an overhang on the stock for the last 2 years, although I have noted previously that I believed it was overblown. In addition to the positive FHFA decision, FICO announced pricing increases for 2023 that exceeded market forecasts.”
Photo by Austin Distel on Unsplash
Fair Isaac Corporation (NYSE:FICO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 36 hedge fund portfolios held Fair Isaac Corporation (NYSE:FICO) at the end of the fourth quarter which was 34 in the previous quarter.
We discussed Fair Isaac Corporation (NYSE:FICO) in another article and shared Baron Asset Fund’s views on the company. 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.