The London Company Income Equity Portfolio Chose to Exit Fidelity National Information Services (FIS) in Q3

Core Insights - The London Company reported a 6.0% gross (5.8% net) appreciation in its portfolio for Q3 2025, outperforming the Russell 1000 Value Index which increased by 5.3% [1] - The positive stock selection contributed to the portfolio's outperformance, although sector exposure presented some headwinds [1] Company Analysis: Fidelity National Information Services, Inc. (NYSE:FIS) - Fidelity National Information Services, Inc. experienced a one-month return of -7.31% and a 52-week loss of 26.94%, closing at $63.15 per share with a market capitalization of $32.988 billion on November 4, 2025 [2] - The London Company highlighted that FIS underperformed in Q3 2025 due to inconsistent execution and a weaker outlook, leading to a decision to sell the position to invest in higher conviction ideas [3] - Despite its strong market position and recurring revenue base, FIS faces additional execution risks, prompting a reevaluation of its investment potential [3] Hedge Fund Interest - Fidelity National Information Services, Inc. was held by 49 hedge fund portfolios at the end of Q2 2025, a decrease from 56 in the previous quarter [4] - While FIS is recognized for its potential, the company is not among the 30 most popular stocks among hedge funds, with certain AI stocks being viewed as offering greater upside potential and less downside risk [4]