Madison Funds, managed by Madison Asset Management, LLC, released its “Madison Small Cap Fund” third quarter 2022 investor letter – a copy of which can be downloaded here. The Russell 2000 declined 2.2% and the Madison Small Cap Fund (Class Y) underperformed the benchmark. With the exception of Energy and Healthcare, all sectors delivered negative returns. Both sector allocation and stock selection hurt our relative performance. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, Madison Small Cap Fund mentioned WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) and explained its insights for the company. Founded in 2015, WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) is a Phoenix, Arizona-based modular space and portable storage solutions provider with a $9.6 billion market capitalization. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) delivered a 10.85% return since the beginning of the year, while its 12-month returns are up by 30.42%. The stock closed at $45.27 per share on November 02, 2022.
Here is what Madison Small Cap Fund has to say about WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) in its Q3 2022 investor letter:
“Our best-performing sectors were Industrials, Financials and Consumer Discretionary, in that order, all driven by stock selection. Within Industrials, Willscot (WSC), our largest position in the Fund, continues to deliver outstanding results and stock appreciation. WillScott has dominant share in a fragmented market with a durable, recurringrevenue, rental business model. Although we have taken some profits, we continue to believe their fundamentals will hold up in a recessionary scenario and this is still our largest position.”
Photo by JOSHUA COLEMAN on Unsplash
Our calculations show that WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) was in 61 hedge fund portfolios at the end of the second quarter of 2022, compared to 58 funds in the previous quarter. WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) delivered a 11.01% return in the past 3 months.
In March 2022, we also shared another hedge fund’s views on WillScot Mobile Mini Holdings Corp. (NASDAQ:WSC) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.
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Disclosure: None. This article is originally published at Insider Monkey.
