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 Hamilton Lane Incorporated (NASDAQ:HLNE) in its Q3 2023 investor letter. Based in Conshohocken, Pennsylvania, Hamilton Lane Incorporated (NASDAQ:HLNE) is a private equity firm. On December 6, 2023, Hamilton Lane Incorporated (NASDAQ:HLNE) stock closed at $102.05 per share. One-month return of Hamilton Lane Incorporated (NASDAQ:HLNE) was 13.97%, and its shares gained 45.66% of their value over the last 52 weeks. Hamilton Lane Incorporated (NASDAQ:HLNE) has a market capitalization of $5.567 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy made the following comment about Hamilton Lane Incorporated (NASDAQ:HLNE) in its Q3 2023 investor letter:
“In the Financials sector we tend to avoid banks that face credit deterioration or rising deposit costs, preferring either asset managers or niche insurance companies. Benefiting the strategy was Hamilton Lane Incorporated’s (NASDAQ:HLNE) 14% climb. Providing private markets investment services, Hamilton’s revenues and earnings exceeded expectations with fee-earning assets growing by 17%. Inflows were especially strong for its Evergreen strategies that are not limited with the fixed lifespan common among private equity funds. As its shares climbed, we steadily trimmed our position.”
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Hamilton Lane Incorporated (NASDAQ:HLNE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 9 hedge fund portfolios held Hamilton Lane Incorporated (NASDAQ:HLNE)at the end of third quarter which was 10 in the previous quarter.
We discussed Hamilton Lane Incorporated (NASDAQ:HLNE) 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.
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Disclosure: None. This article is originally published at Insider Monkey.
