Core Insights - Renaissance Investment Management's Q3 2025 "Large Cap Growth Strategy" investor letter indicates that stock prices rallied, with the S&P 500 reaching all-time highs in September, while the strategy underperformed its benchmarks [1] Company Performance - Tradeweb Markets Inc. (NASDAQ:TW) experienced a one-month return of -1.03% and a 52-week decline of 16.44%, closing at $109.84 per share with a market capitalization of $23.994 billion on October 27, 2025 [2] - In Q2 2025, Tradeweb reported record revenues of $513 million, reflecting a year-on-year increase of 26.7% on a reported basis and 24.7% on a constant currency basis [4] Growth Potential - The investor letter notes concerns about Tradeweb's organic growth decelerating and stagnating market share gains, making it more cyclical and sensitive to industry trading volume fluctuations. However, ongoing client growth and strong international business momentum are viewed as positive indicators for future growth [3] 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, indicating a moderate level of interest among hedge funds [4]