Home Hedge Funds Should You Hold S&P Global (SPGI)?

Should You Hold S&P Global (SPGI)?


Baron Funds, an investment management company, released its “Baron FinTech Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund rose 13.85% (Institutional Shares) compared to a 15.54% gain for the FactSet Global FinTech Index (Benchmark) and an 8.74% gain for the S&P 500 index. The fund appreciated 27.31% in 2023 compared to 23.34% and 26.29% gains for the indexes, respectively. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Baron FinTech Fund featured stocks like S&P Global Inc. (NYSE:SPGI) in the fourth quarter 2023 investor letter. Headquartered in New York, New York, S&P Global Inc. (NYSE:SPGI) provides transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets. On March 5, 2024, S&P Global Inc. (NYSE:SPGI) stock closed at $422.31 per share. One-month return of S&P Global Inc. (NYSE:SPGI) was -8.14%, and its shares gained 24.62% of their value over the last 52 weeks. S&P Global Inc. (NYSE:SPGI) has a market capitalization of $132.648 billion.

Baron FinTech Fund stated the following regarding S&P Global Inc. (NYSE:SPGI) in its fourth quarter 2023 investor letter:

“Shares of rating agency and data provider S&P Global Inc. (NYSE:SPGI) increased due to higher debt issuance amid more favorable market conditions. Billed issuance rose 47% in October and 26% in November against subdued levels last year, with issuance boosted by declining interest rates and tighter bond spreads. Positive equity market performance in the fourth quarter benefited asset-based fees. In addition, the company reported strong quarterly financial results with double-digit growth in revenue and earnings and raised full-year earnings guidance. We continue to own the stock due to the company’s long runway for growth and significant competitive advantages.”

A group of analysts studying data on a large monitor.

S&P Global Inc. (NYSE:SPGI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, S&P Global Inc. (NYSE:SPGI) was held by 82 hedge fund portfolios, up from 78 in the previous quarter, according to our database.

We discussed S&P Global Inc. (NYSE:SPGI) in another article and shared the list of best financial stocks to buy according to hedge funds. In addition, please check out our hedge fund investor letters Q4 2023 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.

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