2. The Trade Desk, Inc. (NASDAQ:TTD)
Number of Hedge Fund Holdings in Q4 2025: 60
The Trade Desk, Inc. (NASDAQ:TTD) is a technology company that operates in the digital advertising space. Its shares are down by 74% over the past year and by 46% year-to-date. UBS discussed the firm on April 21st as it reiterated a Buy rating on the shares. The bank commented that The Trade Desk, Inc. (NASDAQ:TTD) could benefit as macroeconomic pressures on advertising budgets ease. Another factor that the financial firm discussed in its coverage was the upcoming midterm elections, which it believes can benefit the digital advertising industry. Cramer discussed the competitive environment that The Trade Desk, Inc. (NASDAQ:TTD) is operating in:
“And the one that really dazzles me is Trade Desk. You have an insider, Jeff Green, he bought a 148 million dollars worth of stock between twenty three forty nine and twenty five o eight, here it is, after the quarter, down 21 and a half. And this is because they’re up against Walmart and Amazon in advertising. Google and Meta in automated spend. They’ve got some of the most powerful opponents. This was a one time high flyer, I just urge people to recognize that there are misses as well as wins in this space.”
Saga Partners discussed The Trade Desk, Inc. (NASDAQ:TTD) in its Q1 2026 investor letter:
“The Trade Desk, Inc. (NASDAQ:TTD) provides a useful example of how I think through those issues in practice, and I will return to it later in the letter. Its stock price drawdown reflects not only the broader market response to recent headline risks, but also company-specific concerns about the business and its outlook.
A steep decline in a stock price can reflect a real decline in business value, but it does not automatically mean something is broken or permanently impaired. Rather, it is a prompt to reexamine the thesis and ask whether the market’s criticism is correct, exaggerated, or mistaken in light of the business’s underlying economics and competitive dynamics.
The clearest current example in the Saga Portfolio is The Trade Desk, which is facing the greatest market skepticism and has experienced one of the largest drawdowns among our holdings. The Saga Portfolio first bought shares in 2017 based on the thesis that programmatic ad buying would grow, demand-side platforms (DSPs) would consolidate into a small number of scaled winners, and one of those winners would be an independent platform. More than eight years later, the main elements of that thesis have largely been borne out. The Trade Desk emerged as the leading scaled independent DSP, while revenue, earnings, and market value grew substantially…” (Click here to read the full text)
