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Here are the Several Reasons for Nasdaq (NDAQ)’s Outperformance

TimesSquare Capital Management, an equity investment management company, released its “U.S. Concentrated Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy returned -0.72% (net), compared to a -3.37% return for the Russell 3000 Growth Index. The energy sector remained relatively strong in the quarter while Real Estate and Consumer Staples especially detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.

TimesSquare Capital highlighted stocks like Nasdaq, Inc. (NASDAQ:NDAQ) in the Q3 2022 investor letter. Headquartered in New York, New York, Nasdaq, Inc. (NASDAQ:NDAQ) is a technology company that supports stock markets and other industries. On December 23, 2022, Nasdaq, Inc. (NASDAQ:NDAQ) stock closed at $61.28 per share. One-month return of Nasdaq, Inc. (NASDAQ:NDAQ) was -8.74% and its shares lost 10.51% of their value over the last 52 weeks. Nasdaq, Inc. (NASDAQ:NDAQ) has a market capitalization of $30.106 billion.

TimesSquare Capital made the following comment about Nasdaq, Inc. (NASDAQ:NDAQ) in its Q3 2022 investor letter:

"A boost to the portfolio came from Nasdaq, Inc. (NASDAQ:NDAQ) and its 12% advance. They serve capital markets and other industries worldwide, while continuing to make strategic moves towards more recurring revenues. Second quarter earnings exceeded Street projections due to the combination of higher revenues and lower expenses. Areas of strength were Investment Intelligence, their Corporate Platforms segment, and Market Technology."

Nasdaq, Inc. (NASDAQ:NDAQ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Nasdaq, Inc. (NASDAQ:NDAQ) at the end of the third quarter, which was 31 in the previous quarter.

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We discussed Nasdaq, Inc. (NASDAQ:NDAQ) in another article and shared Diamond Hill Capital's views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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