
What smart money is saying about Intercontinental Exchange, Inc.
6 funds in our archive have pitched Intercontinental Exchange, Inc. — most recently GreensKeeper Value Fund in June 2026.
Intercontinental Exchange, Inc. (ICE) manages a global network of regulated financial venues, encompassing exchanges, clearing houses, and listing platforms. These operations serve diverse markets, including commodities, financial instruments, fixed income products, and equities, with a geographical footprint spanning key financial centers such as the United States, United Kingdom, European Union, Singapore, Israel, and Canada. The company's business is segmented into three core areas: Exchanges, Fixed Income and Data Services, and Mortgage Technology. Within its Exchanges segment, ICE oversees a robust network comprising 13 regulated exchanges and 6 clearing houses. These extensive marketplaces enable the listing, trading, and clearing of a wide spectrum of derivatives contracts and financial securities. This includes futures and options across diverse sectors such as energy, agriculture, metals, financials, and equities, in addition to providing critical listing, market data, and connectivity solutions. The Fixed Income and Data Services division provides comprehensive analytics and execution services for fixed income products, manages Credit Default Swap (CDS) clearing, and offers multi-asset class data and network solutions. Furthermore, its Mortgage Technology segment delivers an advanced, proprietary platform designed for residential mortgage origination. This division also provides closing solutions that streamline connections across the mortgage supply chain and facilitate secure information exchange, alongside data analytics and "Data as a Service" offerings for lenders to access vital origination insights. Intercontinental Exchange, Inc. was established in 2000 and maintains its headquarters in Atlanta, Georgia.
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Position history
Between Q2 2025 and Q2 2026, 5 fund letters reported a position in Intercontinental Exchange, Inc. — 1 opened or added to the position, 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 5 | 1 | 1 | 3 |
| Q4 2025 | 0 | 0 | 0 | 1 |
| Q3 2025 | 0 | 0 | 0 | 1 |
| Q2 2025 | 0 | 0 | 0 | 1 |
Fund activity · 5 positions · 2 moves
- AddedFindlay Park American FundJune 2026
“By contrast, Intercontinental Exchange also detracted, but we added to the position.”
Read the letterIntercontinental Exchange, Inc. - HoldsEmerald Focused Equity StrategyJune 2026
“Intercontinental Exchange’s 21.4% share decline knocked 58 bps from the portfolio’s performance.”
Read the letterIntercontinental Exchange, Inc. - ExitedMD SASS Concentrated ValueJune 2026
“We decided to exit the position because our thesis on the Mortgage Technology business has not played out as expected.”
Read the letterIntercontinental Exchange, Inc. - HoldsGreensKeeper Value FundJune 2026
“Our largest detractor during the quarter was Intercontinental Exchange (ICE), which declined 21.7%.”
Read the letterIntercontinental Exchange, Inc. - HoldsHorizon Kinetics Market CommentaryJune 2026
“The companies are Intercontinental Exchange and Texas Pacific Land Corp.”
Read the letterIntercontinental Exchange, Inc.
Also mentioned · 1
These funds discuss Intercontinental Exchange, Inc. — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedACATIS Investment ReportJuly 2026
“The potential pressure from the com- petition also weighed heavily on the stock of Intercontinental Ex- change and the Chicago Mercantile Exchange in June.”
Read the letterIntercontinental Exchange, Inc.
Fund coverage · 6 theses
- GreensKeeper Value FundJune 2026
Intercontinental Exchange, Inc. has strong earnings growth, a defensible franchise in energy markets, and market-leading infrastructure that supports long-term compounding.
Read the full thesis - Findlay Park American FundJune 2026
Intercontinental Exchange owns durable exchange, data and workflow assets with incumbency advantages.
Read the full thesis - Emerald Focused Equity StrategyJune 2026
Intercontinental Exchange owns exchange, clearing, data and mortgage technology assets, with secular growth and AI likely to enhance rather than disrupt its moat.
Read the full thesis - Sequoia FundDecember 2025
Intercontinental Exchange has durable exchange moats, a fast-growing global natural gas benchmark, stabilizing mortgage tech, and attractive risk-reward at a low-20s P/E.
Read the full thesis - Sands Capital Select GrowthSeptember 2025
Intercontinental Exchange (ICE) is poised for long-term growth with strong underlying results and accelerating profitability in its Mortgage Technology division, despite short-term volatility in the broader market.
Read the full thesis - Sands Capital Global GrowthJune 2025
Intercontinental Exchange (ICE) is a leading financial exchange operator that has diversified its offerings across various derivatives, data services, and mortgage technology, positioning itself for sustained above-average earnings growth.
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