Does Tradeweb Markets (TW) Offer an Investment Opportunity?
Artisan Partners, an investment management company, released its “Artisan Mid Cap Fund” second quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, its Investor Class fund ARTMX returned 4.44%, Advisor Class fund APDMX posted a return of 4.48%, and Institutional Class fund APHMX returned 4.49%, compared to a 6.23% return for the Russell Midcap Growth Index. Sector allocation and security selection drove the Q2 underperformance. ARTMX, APDMX, and APHMX returned 17.36%, 17.47%, and 17.48%, respectively, compared to 15.94% for the index. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Artisan Mid Cap Fund Composite highlighted stocks like Tradeweb Markets Inc. (NASDAQ:TW) in the second quarter 2023 investor letter. Headquartered in New York, New York, Tradeweb Markets Inc. (NASDAQ:TW) builds and operates an electronic marketplace. On August 29, 2023, Tradeweb Markets Inc. (NASDAQ:TW) stock closed at $86.01 per share. One-month return of Tradeweb Markets Inc. (NASDAQ:TW) was 6.33%, and its shares gained 23.60% of their value over the last 52 weeks. Tradeweb Markets Inc. (NASDAQ:TW) has a market capitalization of $20.183 billion.
Artisan Mid Cap Fund Composite made the following comment about Tradeweb Markets Inc. (NASDAQ:TW) in its second quarter 2023 investor letter:
"Underperformance within financials was partially driven by two electronic fixed income exchanges, Tradeweb Markets Inc. (NASDAQ:TW) and MarketAxess. Both companies underperformed as bond market activity slowed in the wake of March’s bank failures. As leading US electronic credit trading networks, we believe these companies are well-positioned to capture greater market share of trading volumes as global credit markets increasingly shift toward electronic trading venues. We expect market conditions to normalize in future periods and remain attracted by the opportunity for both franchises. In addition, financial information services provider MSCI underperformed as growth slowed in its climate and ESG segment. We reduced our position but still consider it to be well positioned longer term."
Photo by AlphaTradeZone
Tradeweb Markets Inc. (NASDAQ:TW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held Tradeweb Markets Inc. (NASDAQ:TW) at the end of second quarter which was 28 in the previous quarter.
We discussed Tradeweb Markets Inc. (NASDAQ:TW) in another article and shared Baron FinTech Fund's views on the company. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
