ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed its Russell 3000 Index benchmark in the quarter. The strategy gained nine of the ten sectors in which it was invested on an absolute basis. Overall stock selection contributed to the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Select Strategy featured stocks like The Trade Desk, Inc. (NASDAQ:TTD) in its Q4 2023 investor letter. Headquartered in Ventura, California, The Trade Desk, Inc. (NASDAQ:TTD) provides a technology platform for advertising buyers. On March 14, 2024, The Trade Desk, Inc. (NASDAQ:TTD) stock closed at $77.53 per share. One-month return of The Trade Desk, Inc. (NASDAQ:TTD) was -12.82%, and its shares gained 32.51% of their value over the last 52 weeks. The Trade Desk, Inc. (NASDAQ:TTD) has a market capitalization of $37.907 billion.
ClearBridge Select Strategy stated the following regarding The Trade Desk, Inc. (NASDAQ:TTD) in its fourth quarter 2023 investor letter:
“We have chosen to source a significant number of ideas among companies earlier in their business lifecycle by focusing on four secular growth themes: data and analytics, onshoring/reshoring, information security and e-commerce. In addition to Microsoft, three of the four other new positions we initiated during the quarter fit within these focus areas: The Trade Desk, Inc. (NASDAQ:TTD), Monolithic Power Systems and Model N.
Trade Desk, in the communication services sector, is a disruptor in the advertising technology market, operating a cloud-based platform that enables buyers to manage their digital advertising campaigns. We added the shares on a pullback due to recessionary fears and ad buyer cautiousness.”
A large array of computer screens and tech equipment representing the technology company’s self-service cloud-based platform.
The Trade Desk, Inc. (NASDAQ:TTD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, The Trade Desk, Inc. (NASDAQ:TTD) was held by 41 hedge fund portfolios, compared to 39 in the previous quarter, according to our database.
We discussed The Trade Desk, Inc. (NASDAQ:TTD) in another article and shared Alger Spectra Fund’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.
