Should You Add TPG (TPG)?

TimesSquare Capital Management, an equity investment management company, released its “U.S. SMID Cap Growth Strategy” third-quarter investor letter.  The same can be downloaded here. In the third quarter, the U.S. SMID Cap Growth Composite fell -2.65% (gross) and -2.89% (net) compared to the Russell 2500 Growth Index’s -6.84% decline.  This quarter, the small-to-mid-cap growth stocks that performed better had lower betas or higher returns on equity. Stocks that lacked short-term earnings or had exorbitant valuations (as measured by price/earnings) were penalized. In the third quarter, the portfolio beat the Russell 2500 Growth Index in this setting. In addition, please check the fund’s top five holdings to know its best picks in 2023.

TimesSquare Capital U.S. SMID Cap Growth Strategy highlighted stocks like TPG Inc. (NASDAQ:TPG) in the third quarter 2023 investor letter. Headquartered in Fort Worth, Texas, TPG Inc. (NASDAQ:TPG) is an alternative asset manager. On December 26, 2023, TPG Inc. (NASDAQ:TPG) stock closed at $43.93 per share. One-month return of TPG Inc. (NASDAQ:TPG) was 26.09%, and its shares gained 58.71% of their value over the last 52 weeks. TPG Inc. (NASDAQ:TPG) has a market capitalization of $13.585 billion.

TimesSquare Capital U.S. SMID Cap Growth Strategy made the following comment about TPG Inc. (NASDAQ:TPG) in its Q3 2023 investor letter:

“We began building a position in the private equity manager TPG Inc. (NASDAQ:TPG). This is a current holding in our Mid Cap strategy, and during this quarter we increased our position there as well. TPG proved very adept at both raising assets for new funds and exiting fund holdings at notable premiums, such as the recent sale of its stake in Creative Artists Agency.”

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TPG Inc. (NASDAQ:TPG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 6 hedge fund portfolios held TPG Inc. (NASDAQ:TPG)at the end of third quarter which was 11 in the previous quarter. 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.