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 WillScot Holdings Corporation (NASDAQ:WSC), in the second quarter 2024 investor letter. WillScot Mobile Mini Holdings Corp. changed its name to WillScot Holdings Corporation (NASDAQ:WSC) in July 2024. WillScot Holdings Corporation (NASDAQ:WSC) is a company that offers workspace and portable storage solutions. The one-month return of WillScot Holdings Corporation (NASDAQ:WSC) was 7.26%, and its shares lost 5.61% of their value over the last 52 weeks. On September 17, 2024, WillScot Holdings Corporation (NASDAQ:WSC) stock closed at $40.19 per share with a market capitalization of $7.575 billion.
TimesSquare Capital Management U.S. Small Cap Growth Strategy stated the following regarding WillScot Holdings Corporation (NASDAQ:WSC) in its Q2 2024 investor letter:
“Many of our Industrial positions provide necessary business-to-business operational services, highly technical components, automation & efficiency improvements, or essential infrastructure services. WillScot Holdings Corporation (NASDAQ:WSC) provides modular workspace and portable storage solutions. Despite beating first quarter consensus estimates, its shares sold off by -19% due to the uncertainty associated with the FTC’s review of WillScot’s proposed acquisition of McGrath RentCorp. We added to the position on weakness.”
Aerial shot of a modular space surrounded by poratable storage units.
WillScot Holdings Corporation (NASDAQ:WSC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 53 hedge fund portfolios held WillScot Holdings Corporation (NASDAQ:WSC) at the end of the second quarter which was 66 in the previous quarter. While we acknowledge the potential of WillScot Holdings Corporation (NASDAQ:WSC) 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 WillScot Holdings Corporation (NASDAQ:WSC) and shared best stock picks of billionaire Leon Cooperman in 2024. 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.
