Weitz Investment Remains Positive in MarketAxess Holdings (MKTX)

Weitz Investment Management, an investment management firm, published its “Weitz Investment Management Partners Value Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. The Partners Value Fund’s Institutional Class returned -8.68% for the first quarter compared to -4.60% for the S&P 500 and -5.28% for the Russell 3000. For the fiscal year ended March 31, 2022, the Fund’s Institutional Class returned +4.35% compared to +15.65% for the S&P 500 and +11.92% for the Russell 3000. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.

In its Q1 2022 investor letter, Weitz Investment Management Partners Value Fund mentioned MarketAxess Holdings Inc. (NASDAQ:MKTX) and explained its insights for the company. Founded in 2000, MarketAxess Holdings Inc. (NASDAQ:MKTX) is a United States-based international financial technology company with a $10.4 billion market capitalization. MarketAxess Holdings Inc. (NASDAQ:MKTX) delivered a -32.49% return since the beginning of the year, while its 12-month returns are down by -40.67%. The stock closed at $277.64 per share on June 24, 2022.

Here is what Weitz Investment Management Partners Value Fund has to say about MarketAxess Holdings Inc. (NASDAQ:MKTX) in its Q1 2022 investor letter:

MarketAxess Holdings (NASDAQ:MKTX) was among the Fund’s largest fiscal-year detractors. While our value estimate for MarketAxess declined considerably, our thesis and the company’s critical role in electronic bond trading for the next decade remain intact.”

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Our calculations show that MarketAxess Holdings Inc. (NASDAQ:MKTX) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. MarketAxess Holdings Inc. (NASDAQ:MKTX) was in 39 hedge fund portfolios at the end of the first quarter of 2022, compared to 32 funds in the previous quarter. MarketAxess Holdings Inc. (NASDAQ:MKTX) delivered a -21.10% return in the past 3 months.

In April 2022, we also shared another hedge fund’s views on MarketAxess Holdings Inc. (NASDAQ:MKTX) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.

Disclosure: None. This article is originally published at Insider Monkey.