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 underperformed the Russell Midcap Growth Index and returned 13.66% (gross) and 13.44% (net) while the index return was – 14.55%. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare Capital U.S. Mid Cap Growth Strategy featured stocks like Aptiv PLC (NYSE:APTV) in the fourth quarter 2023 investor letter. Headquartered in Dublin, Ireland, Aptiv PLC (NYSE:APTV) is a vehicle components manufacturer. On March 27, 2024, Aptiv PLC (NYSE:APTV) stock closed at $78.64 per share. One-month return of Aptiv PLC (NYSE:APTV) was -0.17%, and its shares lost 28.22% of their value over the last 52 weeks. Aptiv PLC (NYSE:APTV) has a market capitalization of $21.443 billion.
TimesSquare Capital U.S. Mid Cap Growth Strategy stated the following regarding Aptiv PLC (NYSE:APTV) in its fourth quarter 2023 investor letter:
“Aptiv PLC (NYSE:APTV) is a supplier of electronic automotive technology for safety and entertainment systems. Its stock fell -9% after they reported a mixed third quarter, which included beats to revenues and earnings, though missed on profits and margins. The United Auto Workers strike had an adverse impact on their Advanced Safety and User Experience products. The company held guidance stable while increasing its global production estimates. We reduced the position.”
A closeup of a hand holding a car engine component, highlighting the precision of the company’s engineering.
Aptiv PLC (NYSE:APTV) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Aptiv PLC (NYSE:APTV) was held by 39 hedge fund portfolios, compared to 38 in the previous quarter, according to our database.
We discussed Aptiv PLC (NYSE:APTV) in another article and shared ClearBridge Mid Cap Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 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.