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 Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in the third quarter 2023 investor letter. Headquartered in Boise, Idaho, Clearwater Analytics Holdings, Inc. (NYSE:CWAN) provides web-based solutions for investment data aggregation, reconciliation, accounting, and reporting services. On December 6, 2023, Clearwater Analytics Holdings, Inc. (NYSE:CWAN) stock closed at $19.20 per share. One-month return of Clearwater Analytics Holdings, Inc. (NYSE:CWAN) was 1.05%, and its shares gained 4.40% of their value over the last 52 weeks. Clearwater Analytics Holdings, Inc. (NYSE:CWAN) has a market capitalization of $5.258 billion.
TimesSquare Capital U.S. Small Cap Growth Strategy made the following comment about Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in its Q3 2023 investor letter:
“Also new was Clearwater Analytics Holdings, Inc. (NYSE:CWAN), which provides cloud-based investment accounting and analytics to insurers, asset managers, and corporate treasury departments. This is a holding in our Small/Mid Cap strategy, and as its share price ebbed earlier in the year, that brought its market capitalization into the range for this strategy. More recently during its investor day, Clearwater commented on notable improvements in its projections for the next three years and we began building a position here.”
A financial analyst looking at a computer monitor filled with stock market data, expressing confidence in the company’s investments.
Clearwater Analytics Holdings, Inc. (NYSE:CWAN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 12 hedge fund portfolios held Clearwater Analytics Holdings, Inc. (NYSE:CWAN)at the end of third quarter which was 13 in the previous quarter.
We discussed Clearwater Analytics Holdings, Inc. (NYSE:CWAN) in another article and shared Conestoga Capital Advisors’ views on the company. 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.
