TimesSquare Capital Management, an equity investment management company, released its “U.S. Small/Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2500 Growth Index and returned 6.03% (gross), and the index return was 4.72%. For the full year, the strategy return was -25.06% (gross) compared to a -26.21% return for the benchmark. The relative weakness in the Information Technology and Energy sectors in the quarter was offset by strength in the Financials, Consumer Discretionary, Health Care, and Industrials sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare U.S. Small/Mid Cap Growth Strategy highlighted stocks like Focus Financial Partners Inc. (NASDAQ:FOCS) in its Q4 2022 investor letter. Headquartered in New York, New York, Focus Financial Partners Inc. (NASDAQ:FOCS) is a wealth management services provider. On March 22, 2023, Focus Financial Partners Inc. (NASDAQ:FOCS) stock closed at $51.20 per share. One-month return of Focus Financial Partners Inc. (NASDAQ:FOCS) was 3.35%, and its shares gained 10.92% of their value over the last 52 weeks. Focus Financial Partners Inc. (NASDAQ:FOCS) has a market capitalization of $3.376 billion.
TimesSquare U.S. Small/Mid Cap Growth Strategy made the following comment about Focus Financial Partners Inc. (NASDAQ:FOCS) in its Q4 2022 investor letter:
“Better was the 18% gain from Focus Financial Partners Inc. (NASDAQ:FOCS), an affiliation of wealth management firms globally. Focus reported revenues and earnings that bested expectations, although management tempered its outlook for the next quarter given the variable nature of performance fees for its underlying firms. Later, Focus improved its capital position when it negotiated a new credit facility so the firm could maintain its leverage targets.”
Focus Financial Partners Inc. (NASDAQ:FOCS) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Focus Financial Partners Inc. (NASDAQ:FOCS) at the end of the fourth quarter which was 20 in the previous quarter.
We discussed Focus Financial Partners Inc. (NASDAQ:FOCS) in another article and shared the list of stocks recently downgraded by analysts. In addition, please check out our hedge fund investor letters Q4 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.
