Do You Believe in Intercontinental Exchange’s (ICE) Long-Term Growth Potential?

Core Insights - The Meridian Hedged Equity Fund reported a return of 1.67% in Q3 2025, underperforming the S&P 500 Index which returned 8.13% and the CBOE S&P 500 BuyWrite Index which returned 3.53% [1] - The fund's performance was influenced by a market focus on policy easing rather than weakening fundamentals, despite concerns about stagflation [1] Company Highlights - Intercontinental Exchange, Inc. (NYSE:ICE) is highlighted as a key stock in the fund's portfolio, with a one-month return of 3.84% and a 52-week gain of 7.64% [2] - As of December 23, 2025, Intercontinental Exchange, Inc. had a stock price of $161.95 and a market capitalization of $92.704 billion [2] - The company operates a global network of exchanges and data services across various asset classes, benefiting from a resilient business model that combines transaction-based revenues with recurring data and technology revenues [3] Investment Sentiment - Despite the underperformance of Intercontinental Exchange, Inc. in the recent quarter, the fund maintains confidence in its long-term potential due to strong cash flow generation for debt reduction and shareholder returns [3] - The company is not among the top 30 most popular stocks among hedge funds, with 82 hedge fund portfolios holding its stock at the end of Q3 2025, a slight decrease from 84 in the previous quarter [4] - The fund suggests that certain AI stocks may offer greater upside potential compared to Intercontinental Exchange, Inc., indicating a competitive investment landscape [4]