Intercontinental Exchange (ICE) Fell Due to Investors’ Rotation

Core Insights - Parnassus Investments reported that the S&P 500 Index increased by 8.12% in Q3 2025, driven by investor optimism regarding monetary easing, strong consumer demand, and solid corporate earnings [1] - The Parnassus Core Equity Fund (Investor Shares) returned 2.57% in Q3 2025, underperforming the S&P 500 Index, with a year-to-date return of 9.89% compared to the index's 14.83% [1] Company Analysis: Intercontinental Exchange, Inc. (NYSE:ICE) - Intercontinental Exchange, Inc. (NYSE:ICE) experienced a one-month return of 3.52% and a 52-week gain of 7.30%, with its stock closing at $161.45 per share and a market capitalization of $92.06 billion as of December 22, 2025 [2] - The company saw a decline in its stock price as investors shifted away from defensive, lower-beta stocks that had previously benefited from market enthusiasm, although its fundamentals remain stable [3] - Intercontinental Exchange, Inc. was held by 82 hedge fund portfolios at the end of Q3 2025, a slight decrease from 84 in the previous quarter, indicating a stable interest among hedge funds [3] - Despite acknowledging the potential of Intercontinental Exchange, the company believes that certain AI stocks present greater upside potential and lower downside risk [3]