This has been a position in our International Equities Portfolio since early 2020, and while we’ve traded some along the way, we still retain a 4% portfolio weighting that is currently showing a paper profit of over ~40%. Overnight I listened to a great podcast with the founder Jeff Green that gives insight into the company, the advertising market more generally (very important to understand) and his philosophies around alignment with his customer – a view that MM shares. The podcast is well worth a listen for anyone with an interest in TTD or online advertising more generally and highlights some of the reasons why we have liked the company for so long – and remain bullish. Listen to the podcast here
