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 Pioneer Natural Resources Company (NYSE:PXD) in the Q4 2022 investor letter. Headquartered in Irving, Texas, Pioneer Natural Resources Company (NYSE:PXD) is an oil and gas exploration and production company. On March 30, 2023, Pioneer Natural Resources Company (NYSE:PXD) stock closed at $202.06 per share. One-month return of Pioneer Natural Resources Company (NYSE:PXD) was -3.70%, and its shares lost 20.18% of their value over the last 52 weeks. Pioneer Natural Resources Company (NYSE:PXD) has a market capitalization of $48.568 billion.
TimesSquare U.S. Mid Cap Growth Strategy made the following comment about Pioneer Natural Resources Company (NYSE:PXD) in its Q4 2022 investor letter:
“Better was the 8% surge from Pioneer Natural Resources Company (NYSE:PXD), an exploration and production company with operations in Texas. They reported a slight beat to production estimates with other metrics within their guidance range. The company continued with its aggressive capital return program inclusive of a sizable quarterly dividend and share repurchases. Management announced a shift to its drilling plans by focusing on acreage with higher expected returns.”
Pioneer Natural Resources Company (NYSE:PXD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Pioneer Natural Resources Company (NYSE:PXD) at the end of the fourth quarter which was 49 in the previous quarter.
We discussed Pioneer Natural Resources Company (NYSE:PXD) in another article and shared the list of cheap stocks to buy according to Jim Cramer. 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.
