What smart money is saying about Fair Isaac Corporation (FICO)
7 funds in our archive have pitched Fair Isaac Corporation (FICO), most recently Lindsell Train Global Equity Fund in October 2026.
Fair Isaac Corporation, also known as FICO, delivers advanced analytics, software solutions, and data management services designed to help businesses optimize, automate, and interconnect their crucial decision-making processes. These offerings reach clients across the Americas, Europe, the Middle East, Africa, and the Asia Pacific region. The company operates through two main divisions: Software and Scores. The Software segment provides pre-configured decision management solutions catering to a variety of business challenges and operations, including marketing strategy, account creation, customer relations, engagement, fraud detection, financial crime compliance, and debt collection, alongside related professional services. Key among its offerings is the FICO Platform, a modular software suite built to support sophisticated analytical and decision-making applications. This segment also supplies stand-alone analytical and decisioning software that customers can customize for a broad spectrum of business needs. Conversely, the Scores segment offers both business-to-business (B2B) and business-to-consumer (B2C) solutions. Its B2B scoring services empower corporate clients with analytics that can be integrated directly into their transaction flows and decision frameworks. For individual consumers, the segment provides B2C scoring via offerings such as myFICO.com subscriptions. FICO markets its diverse product and service portfolio primarily through its dedicated direct sales force, various indirect distribution channels, and its online presence. Established in 1956 as Fair Isaac & Company, Inc., the company officially adopted the name Fair Isaac Corporation in July 1992 and maintains its headquarters in Bozeman, Montana.
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Fund signal · last 12 months
19 lettersMore funds are selling than buying
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2025 and Q4 2026, 21 fund letters reported a position in Fair Isaac Corporation (FICO), with 2 buys (opened or added) and 8 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q4 2026 | 1 | 0 | 1 | 2 |
| Q3 2026 | 12 | 1 | 4 | 1 |
| Q2 2026 | 4 | 0 | 2 | 0 |
| Q1 2026 | 2 | 0 | 1 | 1 |
| Q3 2025 | 1 | 0 | 0 | 0 |
| Q2 2025 | 1 | 1 | 0 | 1 |
| Q1 2025 | 0 | 0 | 0 | 2 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 21 positions · 10 moves
- October 2026
“In the spotlight this month is a holding that has taken us on something of an ownership whirlwind in recent years. Having initiated a position in FICO in January 2022, we soon found our valuation tolerance tested as the company embarked on a series of substantial and swift, albeit long overdue price increases, which were well received by the market.”
Fair Isaac Corporation (FICO) - September 2026
“To fund the additions, we exited Roche, Marsh & McLennan and Fair Isaac, positions where our conviction had diminished.”
Fair Isaac Corporation (FICO) - September 2026
“Following such a disappointing performance in contrast to the more than satisfactory aggregate business results for the Fund as a whole, the valuation of the portfolio has further improved. We have often referred to FICO as one of the best compounders we have ever seen, with earnings per share (EPS) growth of almost 20% over the past 35 years.”
Fair Isaac Corporation (FICO) - September 2026
Listed in Antipodes Global Fund (Institutional Clients)’s reported holdings.
Fair Isaac Corporation (FICO) - HoldsAkre CapitalSeptember 2026
“Not all our companies are performing optimally. It is under cover of what we believe will be temporary storm clouds that we have initiated and built positions in these instances. For example, growth for luxury goods remains muted, weighing on LVMH. Copart recently lost a large insurance customer and is making reinvestment decisions that we are scrutinizing closely. Fair Isaac (FICO) has become a political scapegoat for housing affordability challenges. Questions persist on Costar’s domestic residential strategy and reinvestment.”
Fair Isaac Corporation (FICO) - HoldsAkre Focus ETFSeptember 2026
“For example, growth for luxury goods remains muted, weighing on LVMH. Copart recently lost a large insurance customer and is making reinvestment decisions that we are scrutinizing closely. Fair Isaac (FICO) has become a political scapegoat for housing affordability challenges. Questions persist on Costar’s domestic residential strategy and reinvestment.”
Fair Isaac Corporation (FICO) - September 2026
“We sold Fair Isaac Corporation (FICO).”
Fair Isaac Corporation (FICO) - September 2026
“Two positions were eliminated in the quarter. Fair Isaac (FICO) owns the FICO score that banks use to decide whether to approve your mortgage, car loan or credit card.”
Fair Isaac Corporation (FICO) - September 2026
“• Fair Isaac (FICO) (-51%) fell sharply after the US Federal Housing Finance Agency (FHFA) moved twice in September to open mortgage credit scoring to competitor VantageScore, first by allowing lenders to use it and then by placing it on the same pricing grid as the FICO score. The second announcement triggered the stock's largest single-day fall since 1989. We are watching the situation closely and have been adding to our position.”
Fair Isaac Corporation (FICO) - ExitedSpyglass Growth StrategySeptember 2026
“Exited Positions Company Percent of Portfolio Fair Isaac Corporation (4.79%) Exited positions reflect position weights for a representative portfolio as of June 30, 2026. Fair Isaac Corporation (FICO), an analytics software company, was sold during the third quarter. While we continue to view its core business model as high quality, we believe current and potential future regulatory scrutiny have meaningfully widened the Company’s cone of outcomes, and we decided to exit our position and reallocate capital to other opportunities.”
Fair Isaac Corporation (FICO) - September 2026
“But it was FICO which proved the worst performer, with its shares almost halving. As a result, the Fund finished the third quarter behind the benchmark (-0.8% versus +2.1%), compounding the Fund’s relative underperformance for the year. Following such a disappointing performance in contrast to the more than satisfactory aggregate business results for the Fund as a whole, the valuation of the portfolio has further improved. We have often referred to FICO as one of the best compounders we have ever seen, with earnings per share (EPS) growth of almost 20% over the past 35 years.”
Fair Isaac Corporation (FICO) - July 2026
“On the other side of the ledger, FICO (-6%) fell despite another exceptional quarter, with Scores revenues up 41%.”
Fair Isaac Corporation (FICO) - July 2026
“On the other side of the ledger, FICO (-8%) fell despite another exceptional quarter, with Scores revenues up 41%.”
Fair Isaac Corporation (FICO) - TrimmedBaron Asset FundJune 2026
“Top net sales for the quarter Quarter End Market Cap or Market Cap When Sold ($B) Net Amount Sold ($M) Fair Isaac Corporation 27.7 23.1 Floor & Decor Holdings, Inc. 5.2 14.3 Booz Allen Hamilton Holding Corporation 7.3 9.7 Amphenol Corporation 216.9 8.9 Gartner, Inc. 8.7 7.5 We reduced our position in Fair Isaac Corporation , which produces the FICO score that is widely used by lenders to evaluate consumers’ creditworthiness, in response to ongoing uncertainty about potential regulatory changes in the mortgage market.”
Fair Isaac Corporation (FICO) - TrimmedBaron Financials ETFJune 2026
“Top net sales for the quarter Quarter End Market Cap ($B) Net Amount Sold ($M) Intuit Inc. 71.4 1.0 S&P Global Inc. 123.5 0.6 Fair Isaac Corporation 27.7 0.5 Guidewire Software, Inc. 10.2 0.4 Alkami Technology Inc. 1.8 0.2 We trimmed Intuit Inc. due to concerns about market share loss in the consumer tax market. We trimmed S&P Global Inc. to manage the position size and fund purchases elsewhere. We trimmed Fair Isaac Corporation due to regulatory and competitive risks.”
Fair Isaac Corporation (FICO) - HoldsAkre Focus ETFJune 2026
“Recent examples of AI adoption, monetization, or lack of AI-related disruption among our portfolio companies include: • CCC Intelligent Solutions (CCC): $120 million annualized revenue run-rate (ARR) from its Emerging Solutions’ products of which AI is the largest contributor. The company’s Emerging Solutions revenue grew 50% year-over-year. • Salesforce (CRM): Agentforce + Data 360 (key AI products) ARR up 225% to $3.4 billion in Q1 (119% organic). • ServiceNow (NOW): raised 2026 AI revenue guidance by 50% from the prior quarter; announced $300 million in cost savings from internal AI adoption; gross dollar retention steady at 98%. • Constellation Software: no material customer losses to “AI-native” startups across their portfolio of ~1,500 vertical market software companies. • Fair Isaac (FICO): has filed 137 AI-based patents.”
Fair Isaac Corporation (FICO) - HoldsAcción GlobalJune 2026
“Thus, during the last few months, we have had the opportunity to gradually build a "quality basket", in businesses of the highest quality, at valuations that we had not been able to find during the last 10-15 years. Some examples of them are CME Group (absolute monopoly in several specific types of derivatives and competitive advantage through a virtuous circle of liquidity very difficult to disrupt), FICO (hyper asset-light business and gold standard in credit scorings in the United States), Moody's (oligopoly of credit ratings) or Ryan Specialty (leader in non-regulated insurance brokerage).”
Fair Isaac Corporation (FICO) - March 2026
“ Shares of Fair Isaac (FICO) fell approximately 35% in the quarter, with most of the weakness occurring in March as mortgage rates moved back above 6%.”
Fair Isaac Corporation (FICO) - ExitedLarge-Cap GrowthMarch 2026
“ Fair Isaac Corporation (FICO) was a detractor during the quarter as mortgage rates moved back above 6% and the credit bureaus introduced lower-priced alternatives to the traditional FICO score. These developments weighed on sentiment and near-term growth expectations within the mortgage segment. While FICO remains a leading provider of credit scoring solutions, the evolving backdrop reduced visibility. We exited the position during the period and redeployed capital into higher-conviction opportunities.”
Fair Isaac Corporation (FICO) - HoldsBaron FinTech FundSeptember 2025
“Within Information Services, data and analytics companies Fair Isaac Corporation (FICO) and Verisk Analytics, Inc. hampered performance for a second consecutive quarter.”
Fair Isaac Corporation (FICO) - New positionBrown Advisory US Large Cap Growth FundJune 2025
“We initiated positions in DraftKings (DKNG) and Fair Isaac Corporation (FICO) during the quarter.”
Fair Isaac Corporation (FICO)
Fund coverage · 7 theses
- Lindsell Train Global Equity FundOctober 2026
FICO is the deeply embedded incumbent in US mortgage credit scoring, and despite competitive threats from VantageScore, its entrenched position and pricing flexibility should let it keep growing revenues and profits at highly accretive rates.
Read the full thesis - Platinium AM Platinum TrustOctober 2026
FICO's dominant credit score franchise faces regulatory risk, but at 14x earnings much bad news is priced in.
Read the full thesis - Lindsell Train Global Equity FundSeptember 2026
FICO is described as a long-term compounder with deeply embedded credit scoring infrastructure, pricing flexibility, and continued share buybacks despite regulatory pressure.
Read the full thesis - Bristlemoon CapitalMarch 2026
Fair Isaac Corporation is a dominant, deeply entrenched credit scoring provider with strong moats and upside from both earnings growth and a rerating from historically depressed multiples.
Read the full thesis - Lindsell Train Global Equity FundJune 2025
Despite regulatory headwinds, FICO’s dominant market position, pricing power, and adaptable growth strategy—bolstered by strong distribution partnerships and aggressive buybacks—highlight a resilient business model primed to withstand competitive threats.
Read the full thesis - Liontrust GF Global Innovation FundMarch 2025
FICO is a high-quality global data analytics innovator with strong growth potential, having recently become an attractive investment following a significant share price drop, despite some near-term challenges.
Read the full thesis - Lindsell Train Global Equity FundMarch 2025
FICO is a leading player in the US consumer credit market, known for its essential credit scoring system, which has resulted in significant profit growth and a strong market valuation despite recent stock corrections and regulatory concerns.
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