What smart money is saying about Tradeweb Markets
5 funds in our archive have pitched Tradeweb Markets, most recently Guinness Global Quality Mid Cap Fund in August 2026.
Tradeweb Markets Inc. is a global provider that develops and manages sophisticated electronic trading platforms across the Americas, Europe, the Middle East, Africa, and Asia Pacific. These digital venues facilitate transactions in a diverse array of financial instruments, including fixed income (rates and credit), money market products, and equities. The company offers a comprehensive range of services, encompassing pre-trade analytics and data, efficient trade execution, and streamlined processing. It also delivers valuable post-trade data insights, analytical tools, and detailed reporting solutions. Tradeweb caters to a broad spectrum of market participants. It provides flexible order management and trading systems for institutional investors, operating in 45 distinct financial markets and supporting 25 different currencies. Through its Dealerweb platform, it offers a mix of electronic, voice, and hybrid trading solutions to roughly 300 dealers and financial institutions. Furthermore, the Tradeweb Direct platform is specifically designed to serve financial advisory firms and individual traders. With a substantial client network of approximately 2,500 entities, Tradeweb serves the institutional, wholesale, and retail sectors. Its extensive client base includes asset managers, hedge funds, insurance providers, central banks, commercial banks, securities dealers, proprietary trading firms, retail brokerage houses, financial advisory practices, and regional dealers. Tradeweb Markets Inc. was established in 1996, with its corporate headquarters located in New York, New York. The company operates as a subsidiary of Refinitiv Parent Limited.
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Fund signal · last 12 months
14 lettersMore funds are buying than selling
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 Q4 2024 and Q4 2026, 17 fund letters reported a position in Tradeweb Markets, with 5 buys (opened or added) and 2 sells (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q4 2026 | 1 | 0 | 0 | 0 |
| Q3 2026 | 3 | 1 | 2 | 1 |
| Q2 2026 | 9 | 3 | 0 | 2 |
| Q1 2026 | 1 | 0 | 0 | 1 |
| Q3 2025 | 2 | 0 | 0 | 0 |
| Q4 2024 | 1 | 1 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 17 positions · 7 moves
- October 2026
Listed in Spheria Global Smaller Companies Fund’s reported holdings.
Tradeweb Markets - September 2026
“Tradeweb operates one of the largest global electronic marketplaces for fixed income and other financial products. While we continue to believe the electronification of fixed income markets provides a compelling long-term growth opportunity, we exited the position following Intercontinental Exchange’s announced acquisition of MarketAxess, which may increase competitive intensity across the industry.”
Tradeweb Markets - September 2026
“Tradeweb operates one of the largest global electronic marketplaces for fixed income and other financial products. While we continue to believe the electronification of fixed income markets provides a compelling long-term growth opportunity, we exited the position following Intercontinental Exchange’s announced acquisition of MarketAxess, which may increase competitive intensity across the industry.”
Tradeweb Markets - New positionGuinness Global Quality Mid Cap FundAugust 2026
“We bought a new position in Tradeweb Markets and sold our position in Recordati.”
Tradeweb Markets - June 2026
“In Financials, Tradeweb declined as market volatility subsided following the initial fallout from the conflict in Iran, leading to lower trading volume on its platform.”
Tradeweb Markets - June 2026
“In Financials, Tradeweb declined as market volatility subsided following the initial fallout from the conflict in Iran, leading to lower trading volume on its platform.”
Tradeweb Markets - June 2026
“In Financials, Tradeweb declined as market volatility subsided following the initial fallout from the conflict in Iran, leading to lower trading volume on its platform.”
Tradeweb Markets - June 2026
“In addition to Lattice Semiconductor and Comfort Systems, we also added to Guardant Health, Teledyne Technologies and Tradeweb Markets during the quarter.”
Tradeweb Markets - June 2026
“We took advantage of the recent pullback to add to the position.”
Tradeweb Markets - AddedBaron Asset FundJune 2026
“We added to about a dozen positions during the quarter, with the largest being construction aggregates producer Vulcan Materials Company , electronic trading platform Tradeweb Markets Inc. , and public safety technology company Axon Enterprise, Inc.”
Tradeweb Markets - June 2026
“Tradeweb Markets (TW) was another large detractor from performance despite a favorable earnings report that exceeded expectations and favorable monthly updates since.”
Tradeweb Markets - HoldsAcción GlobalJune 2026
“There are more in this basket (when a whole factor comes within reach, we believe the right thing is to diversify), and each of them still has a small weight in the portfolio, but their whole already represents practically 5% of our savings (if we take into account Visa, Tradeweb and MSCI, we would go above 11% in businesses that "watch crises from a balcony"”
Tradeweb Markets - May 2026
“ By geography, our weakest relative performance was in the US. There and globally, most of our underperformance has been in IT. Several of our Financials holdings lagged during the month.”
Tradeweb Markets - March 2026
Listed in HL Global Carbon Transition Equity’s reported holdings.
Tradeweb Markets - HoldsBaron FinTech FundSeptember 2025
“Tradeweb Markets Inc. operates electronic marketplaces for trading fixed income securities. Shares declined due to a slowdown in trading activity amid lower market volatility and challenging comparisons against last year’s elevated growth. Nevertheless, business trends remain solid, with trading volumes up 12% in the third quarter, which we anticipate will drive double-digit revenue growth. We continue to own the stock due to Tradeweb’s strong network effects, long track record of innovation, and significant growth opportunities tied to the ongoing electronification of capital markets.”
Tradeweb Markets - September 2025
“Tradeweb Markets proved our largest detractor in the sector as its market share gains have shown signs of slowing against its primary competitors, despite robust core business fundamentals.”
Tradeweb Markets - New positionNewBridge Large Cap Growth EquityDecember 2024
“Portfolio Actions We made several changes to the portfolio in keeping with our long-term, “bottom-up” investment approach. During the quarter, we bought Tradeweb Markets, Inc. and Reddit, Inc. and sold Celsius Holdings, Inc. from the portfolio.”
Tradeweb Markets
Also mentioned · 4
These funds discuss Tradeweb Markets as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedCooke & Bieler SMID Cap Value EquityJune 2026
“Despite a favorable rst quarter earnings report, the stock sold o sharply amid fears that AI and tokenization might transform xed income markets and erode their competitive position. While MKTX faces robust competition from its larger peer Tradeweb Markets (TW) and privately held Trumid, we believe new technologies are more likely to benet existing players than displace them.”
Tradeweb Markets - June 2026
“While MKTX faces robust competition from its larger peer Tradeweb Markets (TW) and privately held Trumid, we believe new technologies are more likely to benet existing players than displace them.”
Tradeweb Markets - June 2026
“MarketAxess (MKTX), a leading operator of electronic xed income marketplaces with particular strength in corporate credit markets and international bond markets, was the largest detractor. Despite a favorable rst quarter earnings report, the stock sold o sharply amid fears that AI and tokenization might transform xed income markets and erode their competitive position. While MKTX faces robust competition from its larger peer Tradeweb Markets (TW) and privately held Trumid, we believe new technologies are more likely to benet existing players than displace them.”
Tradeweb Markets - MentionedHL Global EquityMay 2026
“ By geography, our weakest relative performance was in the US. There and globally, most of our underperformance has been in IT. Several of our Financials holdings lagged during the month. Despite reporting positive results, insurers RGA and Progressive both fell, as did electronic trading platform Tradeweb.”
Tradeweb Markets
Fund coverage · 5 theses
- Guinness Global Quality Mid Cap FundAugust 2026
Tradeweb Markets is an electronic fixed-income and multi-asset marketplace benefiting from secular electronification, network effects, capital-light growth, and strong free cash flow.
Read the full thesis Tradeweb operates a large fixed income electronic trading marketplace and has a long runway for growth and margin expansion as markets electronify.
Read the full thesisTradeweb operates a large fixed-income trading platform with long-term growth from electronification and margin expansion.
Read the full thesis- Artisan U.S. Mid-Cap Growth StrategyMarch 2026
Tradeweb Markets Inc operates a leading electronic fixed-income marketplace with attractive valuation, share gains and electronification tailwinds supporting durable growth and margins.
Read the full thesis - NewBridge Large Cap Growth EquityDecember 2024
Tradeweb Markets is an electronic marketplace operator for interest rate and credit products, money markets, and equities, targeting a wide range of global institutional and retail clients in a growing market for electronic trading.
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