Diamond Hill Capital, an investment advisor, released its “Small-Mid Cap Strategy” second quarter 2022 investor letter. A copy of the same can be downloaded here. The second quarter was challenging for US stocks and the Russell 1000 Index fell by more than 16%. The fund generated negative returns in the quarter but held better than the Russell 2500 Index. In addition, you can check the top 5 holdings of the fund to know its best choices in 2022.
Diamond Hill Capital discussed stocks like SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in the second quarter 2022 investor letter. Headquartered in Windsor, Connecticut, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is a software products and software-enabled services providing company. On October 3, 2022, SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) stock closed at $49.46 per share. One-month return of SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) was -10.91% and its shares lost 29.08% of their value over the last 52 weeks. SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) has a market capitalization of $12.614 billion.
Here is what Diamond Hill Capital specifically said about SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in its Q2 2022 investor letter:
“The broader market selloff gave us an opportunity to initiate a holding in SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) at what appears to us an attractive discount to intrinsic value. SS&C sells a variety of software/ services that support the operations and business processes of investment firms, brokerages and other financial institutions. With a business model focused primarily on recurring revenue, SS&C’s business lines collectively have a very high client retention rate. Further, a cost-conscious management team focused on continuous operating improvements and achieving greater scale has resulted in a highly cash generative organization. The management team has also proven to be a good allocator of capital, adding value for shareholders.”
Photo by Danial Igdery on Unsplash
SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 50 hedge fund portfolios held SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) at the end of the second quarter which was 48 in the previous quarter.
We discussed SS&C Technologies Holdings, Inc. (NASDAQ:SSNC) in another article and shared Diamond Hill Capital’s views on the company in the previous quarter. 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.
When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.
Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.
At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.
Do the math. According to Musk, this technology could be worth $250 trillion by 2040.
Put another way, that’s roughly equal to:
175 Teslas
107 Amazons
140 Metas
84 Googles
65 Microsofts
And 55 Nvidias
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It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.
Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.
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In fact, Verge argues this company’s supercheap AI technology should concern rivals.
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Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.
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