Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The portfolio returned -0.31% net of fees in the fourth quarter compared to a 4.72% return for the Russell 2500 Growth Index. For the full-year 2022, the fund declined 44.95% while the Russell 2500 Growth Index fell 26.21%. Geopolitical uncertainty, inflation, rising interest rates, and concerns about recession impacted the portfolio’s performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
Polen U.S. SMID Company Growth Strategy highlighted stocks like The Trade Desk, Inc. (NASDAQ:TTD) in its Q4 2022 investor letter. Headquartered in Ventura, California, The Trade Desk, Inc. (NASDAQ:TTD) is a technology company. On February 9, 2023, The Trade Desk, Inc. (NASDAQ:TTD) stock closed at $49.88 per share. One-month return of The Trade Desk, Inc. (NASDAQ:TTD) was 6.06% and its shares lost 34.63% of their value over the last 52 weeks. The Trade Desk, Inc. (NASDAQ:TTD) has a market capitalization of $24.417 billion.
Polen U.S. SMID Company Growth Strategy made the following comment about The Trade Desk, Inc. (NASDAQ:TTD) in its Q4 2022 investor letter:
“The Trade Desk, Inc. (NASDAQ:TTD), the largest independent digital advertising platform, was the biggest detractor to results during the quarter. The stock sold off in sympathy with other advertising-exposed companies, such as Snap and Alphabet, which highlighted declining ad spending in their earnings reports. While declining ad spending is a common feature of more challenging macro environments, The Trade Desk has bucked this trend more recently, showcasing compelling results on tough comparisons in recent quarters. This is not to say that The Trade Desk will not experience some weakness in the short term amidst these broader macro headwinds. However, the trends towards digital advertising and connected TV are powerful secular tailwinds working to the benefit of The Trade Desk over the longer term, and we maintain our positive stance on the company.”
The Trade Desk, Inc. (NASDAQ:TTD) is not our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 37 hedge fund portfolios held The Trade Desk, Inc. (NASDAQ:TTD) at the end of the third quarter, which was 34 in the previous quarter.
We discussed The Trade Desk, Inc. (NASDAQ:TTD) in another article and shared the list of best adtech stocks to buy according to hedge funds. 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.
