TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like Cheniere Energy, Inc. (NYSE:LNG) in the Q4 2022 investor letter. Headquartered in Houston, Texas, Cheniere Energy, Inc. (NYSE:LNG) is an energy infrastructure company. On March 30, 2023, Cheniere Energy, Inc. (NYSE:LNG) stock closed at $156.89 per share. One-month return of Cheniere Energy, Inc. (NYSE:LNG) was -4.56%, and its shares gained 10.42% of their value over the last 52 weeks. Cheniere Energy, Inc. (NYSE:LNG) has a market capitalization of $38.235 billion.
TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Cheniere Energy, Inc. (NYSE:LNG) in its Q4 2022 investor letter:
“Within Energy, Cheniere Energy, Inc. (NYSE:LNG) is an energy infrastructure company that operates liquefied natural gas (LNG) terminals in Louisiana and Texas. Despite reporting inline for the latest quarter, its stock traded down -9%. Contributing factors were Europe had filled its storage ahead of the winter and a recent dip in natural gas pricing. The market for LNG is likely to remain tight for the next several years. Notably, Cheniere paid down $1.3 billion of long-term debt and repurchased $75 million of common stock during the quarter. Cheniere is well positioned to benefit from ongoing tightness in global gas markets.”
Cheniere Energy, Inc. (NYSE:LNG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held Cheniere Energy, Inc. (NYSE:LNG) at the end of the fourth quarter which was 70 in the previous quarter.
We discussed Cheniere Energy, Inc. (NYSE:LNG) in another article and shared ClearBridge Global Infrastructure Value Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
