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Weitz Investment Remains Positive in MarketAxess Holdings (MKTX)

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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."

Photo by AlphaTradeZone

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.