Polen Capital’s Top Contributor: The Trade Desk (TTD)

Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” third-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned 1.44% net of fees in the third quarter compared to -0.12% return for the Russell 2500 Growth Index. Stock selection is a significant factor in the strategy’s outperformance in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Polen Capital discussed stocks like The Trade Desk, Inc. (NASDAQ:TTD) in the Q3 2022 investor letter. Headquartered in Ventura, California, The Trade Desk, Inc. (NASDAQ:TTD) is a technology company. On October 26, 2022, The Trade Desk, Inc. (NASDAQ:TTD) stock closed at $55.36 per share. One-month return of The Trade Desk, Inc. (NASDAQ:TTD) was -8.95% and its shares lost 26.61% of their value over the last 52 weeks. The Trade Desk, Inc. (NASDAQ:TTD) has a market capitalization of $27.03 billion.

Polen Capital made the following comment about The Trade Desk, Inc. (NASDAQ:TTD) in its Q3 2022 investor letter:

“The top absolute contributors to the Portfolio’s performance over the quarter included Wingstop, The Trade Desk, Inc. (NASDAQ:TTD), and Paycom.

The Trade Desk, the leading independent demand-side platform for programmatic advertising, delivered very strong results in the quarter which were especially impressive given the difficult year-over-year growth comparisons and the weakness that many of its ad tech peers had been experiencing more recently. This is a business that benefits from solid secular tailwinds amidst a difficult macro backdrop and we believe the company has a particularly long runway ahead of it with the ability to compound sales and EPS(earnings per share) at >25-30% for many years.”

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The Trade Desk, Inc. (NASDAQ:TTD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held The Trade Desk, Inc. (NASDAQ:TTD) at the end of the second quarter which was 34 in the previous quarter.

We discussed The Trade Desk, Inc. (NASDAQ:TTD) in another article and shared Rowan Street Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.