Polen Capital, an investment management company, released its “Polen U.S. SMID Company Growth Strategy” second-quarter 2023 investor letter. A copy of the same can be downloaded here. The portfolio returned 5.94% gross and 5.82% net of fees in the second quarter compared to a 6.42% return for the Russell 2500 Growth Index. The quarter showed an illustration of how rapidly market sentiment can shift. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Polen U.S. SMID Company Growth Strategy highlighted stocks like The Trade Desk, Inc. (NASDAQ:TTD) in the second quarter 2023 investor letter. Headquartered in Ventura, California, The Trade Desk, Inc. (NASDAQ:TTD) provides a technology platform for advertising buyers. On August 11, 2023, The Trade Desk, Inc. (NASDAQ:TTD) stock closed at $74.62 per share. One-month return of The Trade Desk, Inc. (NASDAQ:TTD) was -17.72%, and its shares lost 1.05% of their value over the last 52 weeks. The Trade Desk, Inc. (NASDAQ:TTD) has a market capitalization of $36.478 billion.
Polen U.S. SMID Company Growth Strategy made the following comment about The Trade Desk, Inc. (NASDAQ:TTD) in its second quarter 2023 investor letter:
“The Trade Desk, Inc. (NASDAQ:TTD), a leading demand-side programmatic advertising platform, has continued to deliver strong results despite a challenging advertising environment. Additionally, as the market increasingly appreciates the real applications AI can have in some business models, The Trade Desk stands out as a leader with the opportunity to compound its advantage looking ahead. The company’s success comes from increasing penetration in the nascent connected TV (“CTV”) market, which has steadily taken share from linear television in recent years. We expect this secular tailwind to continue and dampen whatever short-term headwinds the digital advertising market might face in the coming quarters/years.”
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The Trade Desk, Inc. (NASDAQ:TTD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held The Trade Desk, Inc. (NASDAQ:TTD) at the end of first quarter which was 37 in the previous quarter.
We discussed The Trade Desk, Inc. (NASDAQ:TTD) in another article and shared the list of stocks getting a huge vote of confidence from Wall Street analysts. In addition, please check out our hedge fund investor letters Q2 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.
