Shares of Charles Schwab Corp. (SCHW) Declined Due to Investor Concerns

Baron Funds, an asset management company, released its “Baron Partners Fund” second quarter 2022 investor letter. A copy of the same can be downloaded here. The fund declined 30.55% in the second quarter compared to a 21.07% decline in the Russell Midcap Growth Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Baron Funds discussed stocks like The Charles Schwab Corporation (NYSE:SCHW) in the second quarter investor letter. Headquartered in Westlake, Texas, The Charles Schwab Corporation (NYSE:SCHW) is a financial services company. On September 13, 2022, The Charles Schwab Corporation (NYSE:SCHW) stock closed at $72.95 per share. One-month return of The Charles Schwab Corporation (NYSE:SCHW) was -5.48% and its shares gained 4.62% of their value over the last 52 weeks. The Charles Schwab Corporation (NYSE:SCHW) has a market capitalization of $138.393 billion.

Here is what Baron Funds specifically said about The Charles Schwab Corporation (NYSE:SCHW) in its Q2 2022 investor letter:

“Shares of online brokerage firm The Charles Schwab Corporation (NYSE:SCHW) detracted in the quarter over concerns that clients will shift assets to less profitable money market funds and declining equity markets will pressure the asset management business. We retain conviction. Despite turbulent markets, Schwab attracted over $120 billion of net new client assets in the recent quarter. Rising interest rates should lead to increased profits on the company’s nearly $600 billion of interest earning assets as well.”

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The Charles Schwab Corporation (NYSE:SCHW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 68 hedge fund portfolios held The Charles Schwab Corporation (NYSE:SCHW) at the end of the second quarter which was 78 in the previous quarter.

We discussed The Charles Schwab Corporation (NYSE:SCHW) in another article and shared stocks to buy in 2022 according to Motley Fool’s 1623 Capital. In addition, please check out our hedge fund investor letters Q2 2022 page for more investor letters from hedge funds and other leading investors.

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