Artisan Partners, an investment management company, released its “Artisan Value Income Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, its Investor Class fund APFWX returned 10.25%, Advisor Class fund APDWX posted a return of 10.23%, and Institutional Class fund APHWX returned 10.24%, compared to a return of 7.56% for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Artisan Value Income Fund highlighted stocks like H&R Block, Inc. (NYSE:HRB) in the fourth quarter 2022 investor letter. Headquartered in Kansas City, Missouri, H&R Block, Inc. (NYSE:HRB) provides provisions for tax preparations and other services. On April 5, 2023, H&R Block, Inc. (NYSE:HRB) stock closed at $34.48 per share. One-month return of H&R Block, Inc. (NYSE:HRB) was -7.24%, and its shares gained 30.51% of their value over the last 52 weeks. H&R Block, Inc. (NYSE:HRB) has a market capitalization of $5.251 billion.
Artisan Value Income Fund made the following comment about H&R Block, Inc. (NYSE:HRB) in its Q4 2022 investor letter:
“Our biggest detractors were H&R Block, Inc. (NYSE:HRB), Cable One (CABO) and Blackstone. Shares of tax preparation company H&R Block pulled back after strong gains earlier in the year. The stock has been among our top contributors since we launched this portfolio in Q1 2022. The company benefited from increased tax filing complexity given the influences of increased retail trading in stocks and cryptocurrency and one-time child tax credits in the 2021 tax year. A mix shift toward more complex tax filings led to share gains in the higher value-add assisted tax prep category. In an inflationary environment and amid concerns of economic slowing due to tightening financial conditions, investors naturally value H&R Block’s pricing power, steady growth characteristics, strong free cash flow and robust return of capital. Through the ups and downs of the economic cycle, we believe the company should remain one of the industry’s best brands based on its strong market share positions.”
H&R Block, Inc. (NYSE:HRB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held H&R Block, Inc. (NYSE:HRB) at the end of the fourth quarter which was 24 in the previous quarter.
We discussed H&R Block, Inc. (NYSE:HRB) in another article and shared the list of undervalued mid-cap stocks to buy. 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.