Intercontinental Exchange (ICE) Benefited as Volatility Hits The Markets

Soumya Eswaran

Thu, Apr 10, 2025, 6:27 AM 3 min read

GreensKeeper Asset Management, an investment management company, released its first quarter 2025 investor letter. A copy of the letter can be downloaded here. Markets had a difficult start to 2025; with high levels of volatility in all of the main indices. The Value Fund finished the first quarter +3.0% net of fees and expenses net of fees and expenses. For the first quarter, the S&P/TSX retuned +1.5%, the S&P500 -4.2% and the Nasdaq –10.2%. The markets fell around 10% this past week as a result of President Trump's April 2 "Liberation Day" tariff announcement. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2025.

In its first quarter 2025 investor letter, GreensKeeper Asset Management emphasized stocks such as Intercontinental Exchange, Inc. (NYSE:ICE). Intercontinental Exchange, Inc. (NYSE:ICE) offers market infrastructure, data services, and technology solutions for financial institutions, corporations, and government entities. The one-month return of Intercontinental Exchange, Inc. (NYSE:ICE) was -7.29%, and its shares gained 17.48% of their value over the last 52 weeks. On April 9, 2025, Intercontinental Exchange, Inc. (NYSE:ICE) stock closed at $156.81 per share with a market capitalization of $90.087 billion.

GreensKeeper Asset Management stated the following regarding Intercontinental Exchange, Inc. (NYSE:ICE) in its Q1 2025 investor letter:

"Rounding out our top 5 performers in Q1 were Elevance Health (ELV) +17.9% and Intercontinental Exchange, Inc. (NYSE:ICE) + 15.8%. As mentioned in the last Scorecard, we believe the sell-off in ELV over the past year has been overdone, and the stock is trading at a significant discount to our estimate of its intrinsic value. The recent rebound reflects a partial correction of that mispricing. ICE continues to perform well as a significant portion of its earnings is driven by transaction volume on its exchanges and increasing demand for financial data, both of which generally increase when panic-induced volatility hits the markets."

A financial trader monitoring a stock index board in an office lobby.

Intercontinental Exchange, Inc. (NYSE:ICE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 91 hedge fund portfolios held Intercontinental Exchange, Inc. (NYSE:ICE) at the end of the fourth quarter compared to 84 in the third quarter. While we acknowledge the potential of Intercontinental Exchange, Inc. (NYSE:ICE) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.