Intercontinental Exchange (ICE) Declined Due to Slower Trading Volume

Core Insights - Macquarie Asset Management's "Macquarie Large Cap Growth Fund" reported positive returns in Q3 2025 but underperformed the Russell 1000 Growth Index due to an unfavorable market environment and missteps [1] - AI-themed stocks were significant contributors to market gains, accounting for approximately 75% of market returns in the quarter [1] Fund Performance - The fund's performance lagged behind the benchmark, primarily due to not owning high-performing stocks like Tesla and the underperformance of its positions in Intercontinental Exchange, Inc. and Intuit Inc. [3] - The fund's top five holdings for 2025 were highlighted, indicating a focus on long-term structural trends despite short-term challenges [1] Intercontinental Exchange, Inc. (NYSE:ICE) - Intercontinental Exchange, Inc. experienced a one-month return of -8.12% and a 52-week loss of 4.15%, with a closing stock price of $158.27 and a market capitalization of $90.597 billion as of October 14, 2025 [2] - The company operates commodity exchanges and a mortgage technology business, but faced challenges due to slowed trading volumes, particularly in energy [3] - Despite recent underperformance, the fund believes ICE maintains a strong market position with potential for long-term growth driven by structural aspects of the energy market [3] Hedge Fund Interest - Intercontinental Exchange, Inc. was held by 84 hedge fund portfolios at the end of Q2 2025, a decrease from 94 in the previous quarter [5] - The company is not among the 30 most popular stocks among hedge funds, with a suggestion that certain AI stocks may offer better upside potential and lower downside risk [5]