Here’s What Impacted Tradeweb Markets (TW) in Q3

Group 1: Fund Performance - Baron FinTech Fund experienced a decline of 4.29% in Q3 2025, compared to a 1.90% decline for the FactSet Global FinTech Index [1] - Since inception, the fund has achieved an annualized return of 11.10%, outperforming the benchmark's 4.00% return [1] - Market strength in the quarter was driven by the resumption of Federal Reserve rate cuts and optimism surrounding AI [1] Group 2: Tradeweb Markets Inc. Overview - Tradeweb Markets Inc. (NASDAQ:TW) is a global financial technology company that operates electronic marketplaces for trading fixed income securities [3] - The stock's one-month return was 0.59%, but it has lost 16.13% of its value over the past 52 weeks, closing at $109.52 per share with a market capitalization of $24.039 billion on November 14, 2025 [2] - Tradeweb reported record revenues of $509 million in Q3 2025, reflecting a 13% year-on-year increase on a reported basis and an 11% increase on a constant currency basis [4] Group 3: Business Trends and Outlook - Despite a decline in share value due to lower trading activity and market volatility, Tradeweb's trading volumes increased by 12% in Q3 2025, indicating solid business trends [3] - The company is expected to achieve double-digit revenue growth driven by ongoing electronification of capital markets [3] - Baron FinTech Fund continues to hold Tradeweb stock due to its strong network effects, innovation track record, and growth opportunities [3] Group 4: Hedge Fund Interest - Tradeweb Markets Inc. was held by 34 hedge fund portfolios at the end of Q2 2025, a slight decrease from 35 in the previous quarter [4] - The company is not listed among the 30 most popular stocks among hedge funds [4]