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 BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q4 2022 investor letter. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is a warehouse club operator headquartered in Westborough, Massachusetts. On March 30, 2023, BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) stock closed at $74.74 per share. One-month return of BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) was 1.05%, and its shares gained 10.51% of their value over the last 52 weeks. BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) has a market capitalization of $10.008 billion.
TimesSquare U.S. Mid Cap Growth Strategy made the following comment about BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in its Q4 2022 investor letter:
“New to the portfolio this quarter was BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ), an operator of membership warehouse clubs predominantly on the East Coast. Third quarter results beat expectations, driven by better same store sales. There has been continued momentum on new membership growth. The stock slid -8% on fears that gasoline profits may have peaked, though we believe BJ’s core business will continue its strong growth.”
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BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 38 hedge fund portfolios held BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) at the end of the fourth quarter which was 29 in the previous quarter.
We discussed BJ’s Wholesale Club Holdings, Inc. (NYSE:BJ) in another article and shared LVS Advisory’s views on the company. 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.
