Is it Still Worthy to Invest in BlackRock (BLK)?

Baron Funds, an asset management firm, published its “Baron Durable Advantage Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. Baron Durable Advantage Fund (the “Fund”) declined 10.3% (Institutional Shares) during the first quarter, compared to the 4.6% decline for the S&P 500 Index (the “Index”), the Fund’s benchmark. Try to spend some time looking at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Baron Durable Advantage Fund mentioned BlackRock, Inc. (NYSE:BLK) and explained its insights for the company. Founded in 1988, BlackRock, Inc. (NYSE:BLK) is a New York, New York-based multinational investment management corporation with a $92.6 billion market capitalization. BlackRock, Inc. (NYSE:BLK) delivered a -33.19% return since the beginning of the year, while its 12-month returns are down by -27.19%. The stock closed at $611.72 per share on May 17, 2022.

Here is what Baron Durable Advantage Fund has to say about BlackRock, Inc. (NYSE:BLK) in its Q1 2022 investor letter:

“BlackRock Inc. (NYSE:BLK), the $10 trillion asset manager, offers a variety of products across equities, fixed income, alternatives, and cash management to institutional and retail investors worldwide. BlackRock shares declined 15.5% in the quarter driven by the weak financial markets which led to client hesitation and declining portfolio values. We believe these trends are temporary. With most of its assets in index funds and ETFs, BlackRock is a prime beneficiary of the ongoing shift to passive investing. The company also benefits from increasing demand for sustainable investment strategies as well as the adoption of its leading technology platform and its higher-fee value-added products.”

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Our calculations show that BlackRock, Inc. (NYSE:BLK) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. BlackRock, Inc. (NYSE:BLK) was in 49 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 44 funds in the previous quarter. BlackRock, Inc. (NYSE:BLK) delivered a -21.27% return in the past 3 months.

In March 2022, we also shared another hedge fund’s views on BlackRock, Inc. (NYSE:BLK) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.