What smart money is saying about The Trade Desk
6 funds in our archive have pitched The Trade Desk, most recently Saga Portfolio in March 2026.
The Trade Desk, Inc. is a global technology company that provides a self-service, cloud-based platform. This platform enables advertising buyers to efficiently create, manage, and optimize data-driven digital ad campaigns across diverse formats and channels, including display, video, audio, native, and social media, reaching audiences on computers, mobile devices, and connected TVs. In addition to the platform, the company offers various data and value-added services. Their primary clients are advertising agencies and other service providers who represent advertisers. The Trade Desk was founded in 2009 and is headquartered in Ventura, California.
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Fund signal · last 12 months
6 lettersToo few moves on The Trade Desk yet for a clear signal
Moves described in fund letters in our archive. A sentence published word for word by several funds of one house in the same quarter counts once.
Position history
Between Q1 2025 and Q3 2026, 9 fund letters reported a position in The Trade Desk, with 4 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 3 | 0 | 2 | 0 |
| Q1 2026 | 2 | 0 | 1 | 1 |
| Q4 2025 | 1 | 0 | 0 | 2 |
| Q3 2025 | 1 | 0 | 1 | 2 |
| Q2 2025 | 1 | 0 | 0 | 1 |
| Q1 2025 | 1 | 0 | 0 | 0 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 9 positions · 5 moves
- September 2026
“By the second quarter of 2026, The Trade Desk no longer met that standard, and we exited the position.”
The Trade Desk - ExitedVision Capital FundSeptember 2026
“Fund Actions. In Q3, we exited our entire position in The Trade Desk (TTD) and added two new positions, Alphabet (GOOGL) and Datadog (DDOG).”
The Trade Desk - ExitedRowan Street FundSeptember 2026
“By the second quarter of 2026, The Trade Desk no longer met that standard, and we exited the position.”
The Trade Desk - March 2026
“Persistent negative headlines continued to weigh on The Trade Desk’s (TTD) stock.”
The Trade Desk - ExitedLarge-Cap GrowthMarch 2026
“ We chose to exit The Trade Desk (TTD) following a period of increased uncertainty driven by ongoing negative headlines and evolving competitive dynamics and swap into Spotify.”
The Trade Desk - December 2025
“Trade Desk stock dropped after management released sluggish revenue guidance, sparking concerns that its growth may be secularly slowing as Amazon’s aggressive pricing tactics have increased the competitive intensity of the industry.”
The Trade Desk - September 2025
“In addition to the transactions mentioned above, we exited positions in Keysight Technologies in the IT sector, Trade Desk in the communication services sector and IDEX in the industrials sector.”
The Trade Desk - June 2025
“Communication Services was the largest positive contributor to relative performance during the quarter, driven by strong results from Netflix (NFLX) and The Trade Desk (TTD). Netflix, a leading streaming service with more than 300 million global subscribers, reported results that exceeded consensus expectations, maintained fiscal year guidance, and executed a record $3.5 billion buyback. Despite macroeconomic headwinds, subscription growth in key markets and increased advertising revenue drove the increase to guidance, reinforcing Netflix’s strong market position and content strategy. The Trade Desk, a software company offering a self-service, cloud- based platform that enables advertisers and their agencies to acquire digital advertising across multiple channels, outperformed during the period.”
The Trade Desk - March 2025
“The Trade Desk, a digital advertising technology platform, detracted after missing guidance for the first time since going public.”
The Trade Desk
Fund coverage · 6 theses
- Saga PortfolioMarch 2026
The Trade Desk is viewed as the leading independent DSP with structural advantages, long-term growth potential, and a valuation that appears unusually attractive despite recent slowdown and AI/competition concerns.
Read the full thesis - Rowan StreetDecember 2025
The Trade Desk is an independent, asset-light ad-tech platform with network effects and profitability, but recent execution and communication issues have tempered conviction pending improvement.
Read the full thesis - Saga PartnersDecember 2025
The Trade Desk is a scaled independent DSP aligned with advertisers, positioned to gain share as it optimizes open-internet ad spend despite cyclical headwinds.
Read the full thesis - Harding Loevner Global Developed Markets EquitySeptember 2025
The Trade Desk is a digital advertising platform poised for growth despite competitive challenges, benefiting from the shift in ad spending from traditional TV to digital channels.
Read the full thesis - Vision CapitalSeptember 2025
The Trade Desk is the leading independent programmatic digital advertising platform well-positioned to benefit from the increasing connected TV ad spend, despite recent challenges and competition from Amazon DSP.
Read the full thesis - Baron Opportunity FundJune 2025
The Trade Desk is a leading independent platform for digital advertising that holds significant potential for future growth in the under-penetrated programmatic advertising market.
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