TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter 2024 investor letter. A copy of the letter can be downloaded here. In the quarter the fund returned -1.59% (gross) and -1.83% (net), compared to a -2.92% return for the Russell 2000 Growth Index. The equity markets performed well in the second quarter, as long as one held only a handful of the biggest, fastest-growing U.S. stocks. Despite profitability turning positive this quarter following negative or neutral results in previous quarters, momentum remained the most important component in the worldwide market. In addition, please check the fund’s top five holdings to know its best picks in 2024.
TimesSquare Capital Management U.S. Small Cap Growth Strategy highlighted stocks like Hamilton Lane Incorporated (NASDAQ:HLNE), in the second quarter 2024 investor letter. Hamilton Lane Incorporated (NASDAQ:HLNE) is a private equity and venture capital firm, with a market capitalization of $8.529 billion. The one-month return of Hamilton Lane Incorporated (NASDAQ:HLNE) was 10.20%, and its shares gained 73.03% of their value over the last 52 weeks. On September 17, 2024, Hamilton Lane Incorporated (NASDAQ:HLNE) stock closed at $157.37 per share.
TimesSquare Capital Management U.S. Small Cap Growth Strategy stated the following regarding Hamilton Lane Incorporated (NASDAQ:HLNE) in its Q2 2024 investor letter:
“In the Financials sector we tend to avoid banks that face credit deterioration or rising deposit costs, preferring asset managers, niche insurance companies, and niche fintech providers. Hamilton Lane Incorporated (NASDAQ:HLNE) offers private market investment solutions. The company’s stock gained 10% after posting strong quarterly results, driven by performance fees, asset management fees, and fundraising efforts.”
Hamilton Lane Incorporated (NASDAQ:HLNE) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Hamilton Lane Incorporated (NASDAQ:HLNE) at the end of the second quarter which was 15 in the previous quarter. While we acknowledge the potential of Hamilton Lane Incorporated (NASDAQ:HLNE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Hamilton Lane Incorporated (NASDAQ:HLNE) and shared Polen U.S. Small Company Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2024 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.