TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the quarter the fund returned 9.15% (net), compared to a 12.75% return for the Russell 2000 Growth Index. For the year, the fund returned 15.96% (net) compared to 18.66% for the index. 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 featured stocks like Visteon Corporation (NASDAQ:VC) in the Q4 2023 investor letter. Headquartered in Van Buren, Michigan, Visteon Corporation (NASDAQ:VC) is an automotive technology company. On March 20, 2024, Visteon Corporation (NASDAQ:VC) stock closed at $114.85 per share. One-month return of Visteon Corporation (NASDAQ:VC) was -1.20%, and its shares lost 25.69% of their value over the last 52 weeks. Visteon Corporation (NASDAQ:VC) has a market capitalization of $3.157 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy stated the following regarding Visteon Corporation (NASDAQ:VC) in its fourth quarter 2023 investor letter:
“Offsetting that was the -10% pullback from Visteon Corporation (NASDAQ:VC), which designs and manufactures automotive electronics, primarily for driver information and display clusters. Its revenues were shy of expectations, though earnings were better than expected and management lifted its guidance. While the UAW strike settlement was a positive development for automotive production in the short term, concerns grew for EV component providers as EV supply exceeded demand. Even though Visteon’s digital cockpit solutions are used across all types of vehicles, notable future growth is expected from its wireless battery management systems for EVs. Because EV sales rates might take several quarters to reaccelerate, we trimmed our position in Visteon.”
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Visteon Corporation (NASDAQ:VC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Visteon Corporation (NASDAQ:VC) was held by 33 hedge fund portfolios, compared to 22 in the previous quarter, according to our database.
We discussed Visteon Corporation (NASDAQ:VC) in another article and shared ClearBridge Small Cap Value Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.
