TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” third-quarter investor letter. A copy of the same can be downloaded here. In the quarter the fund returned -3.67% (net), compared to -7.32% return for the Russell 2000 Growth Index. Year-to-date the fund returned 11.56% (net) compared to 9.59% return for the index. The third quarter saw a decline in global equities markets, but they remained positive YTD. Value has generally outperformed Growth, as demonstrated by the style factors and market indexes. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Small Cap Growth Strategy highlighted stocks like BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in the third quarter 2023 investor letter. Headquartered in Westborough, Massachusetts, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) operates warehouse clubs. On December 6, 2023, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) stock closed at $64.12 per share. One-month return of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was -4.74%, and its shares lost 8.18% of their value over the last 52 weeks. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) has a market capitalization of $8.552 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy made the following comment about BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q3 2023 investor letter:
“Better was the 13% gain from warehouse club operator BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ). The company’s results were largely as expected during its mid-quarter report. Subsequently, competitors noted that general merchandise sales had improved industry wide. That also should provide a future lift for BJ’s.”
A warehouse full of industrial-grade materials handling equipment.
BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 27 hedge fund portfolios held BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ)at the end of third quarter which was 27 in the previous quarter.
We discussed BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in another article and shared TimesSquare U.S. Small Cap Growth Strategy’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 12 Best Gold Dividend Stocks To Buy Now
- 12 Most Advanced Countries in Missile Technology
- 13 Hot Penny Stocks To Buy According to Hedge Funds
Disclosure: None. This article is originally published at Insider Monkey.
