TimesSquare Capital Management, an equity investment management company, released its “U.S. Mid Cap Growth Strategy” fourth-quarter investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy returned 4.18% (net), compared to 6.90% for the Russell Midcap Growth Index. For the calendar year, the strategy returned -22.13% (net) compared to the benchmark’s return of -26.72%. Weakness in Consumer Staples, Energy, Health Care, Information Technology, and Real Estate holdings led to the underperformance of the portfolio in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
TimesSquare U.S. Mid Cap Growth Strategy highlighted stocks like O’Reilly Automotive, Inc. (NASDAQ:ORLY) in the Q4 2022 investor letter. Headquartered in Springfield, Missouri, O’Reilly Automotive, Inc. (NASDAQ:ORLY) is an automotive parts, tools, and supplies retailer. On March 31, 2023, O’Reilly Automotive, Inc. (NASDAQ:ORLY) stock closed at $848.98 per share. One-month return of O’Reilly Automotive, Inc. (NASDAQ:ORLY) was 1.14%, and its shares gained 23.60% of their value over the last 52 weeks. O’Reilly Automotive, Inc. (NASDAQ:ORLY) has a market capitalization of $52.495 billion.
TimesSquare U.S. Mid Cap Growth Strategy made the following comment about O’Reilly Automotive, Inc. (NASDAQ:ORLY) in its Q4 2022 investor letter:
“Another boost came from O’Reilly Automotive, Inc. (NASDAQ:ORLY), a specialty retailer of after-market automotive parts and accessories, which scored a 20% gain. Revenues and earnings surpassed sell-side estimates on higher same store comparisons. Their do-it-for-me professional mechanic business generated double-digit growth while do-it-yourself increased sales by a modest amount.”
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O’Reilly Automotive, Inc. (NASDAQ:ORLY) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held O’Reilly Automotive, Inc. (NASDAQ:ORLY) at the end of the fourth quarter which was 48 in the previous quarter.
We discussed O’Reilly Automotive, Inc. (NASDAQ:ORLY) in another article and shared the list of most valuable retail companies in the world. 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.
