Rowan Street Capital LLC, an investment management firm, published its first-quarter 2022 investor letter – a copy of which can be seen here. The past two quarters have been difficult for all growth investors and certainly for Rowan Street partners. COVID reopening, inflation, the threat of a rapid increase in interest rates as well as the war going on in Europe all contributed to a very rapid market rotation out of growth stocks, which were the darlings of the 2020-21 time period. These types of rotations and corrections are normal and to be expected from time to time. 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, Rowan Street Capital mentioned The Trade Desk, Inc. (NASDAQ:TTD) and explained its insights for the company. Founded in 2009, The Trade Desk, Inc. (NASDAQ:TTD) is a California-based digital marketing company with a $30.1 billion market capitalization. The Trade Desk, Inc. (NASDAQ:TTD) delivered a -32.31% return since the beginning of the year, while its 12-month returns are down by -13.71%. The stock closed at $62.03 per share on April 18, 2022.
Here is what Cooper Investors Rowan Street Capital has to say about The Trade Desk, Inc. (NASDAQ:TTD) in its Q1 2022 investor letter:
“We were fortunate to acquire Trade Desk, Inc. (NASDAQ:TTD) for the Rowan portfolio during pandemic lows in April of 2020. Trade Desk, Inc. (NASDAQ:TTD) has been our best performing idea over the past couple of years and we intend to hold on to every share we own.”
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Our calculations show that The Trade Desk, Inc. (NASDAQ:TTD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. The Trade Desk, Inc. (NASDAQ:TTD) was in 32 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 19 funds in the previous quarter. The Trade Desk, Inc. (NASDAQ:TTD) delivered a -17.81% return in the past 3 months.
In March 2022, we published an article that includes The Trade Desk, Inc. (NASDAQ:TTD) 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.
