Through five months in 2023, the Nasdaq-100 index has posted a return of 31%. While only one of the Nasdaq 100 members mentioned below has beaten this mark to start the year, both have managed to post positive returns after a tumultuous 2022.

Home to best-in-class operations and leadership positions in steadily growing niches, these businesses are perfect candidates to consider adding to in June.

So whether you are looking for a hypergrowth stock like CrowdStrike (CRWD -2.92%) or a top-tier compounder such as Old Dominion Freight Lines (ODFL 0.81%), here's why doubling down on these winners makes a lot of sense right now.

1. CrowdStrike

Years before artificial intelligence (AI) and machine learning (ML) became buzzwords in 2023, cybersecurity upstart CrowdStrike was already incorporating the technology at the core of its Falcon platform. Sifting through 7 trillion cybersecurity events weekly, CrowdStrike continuously feeds its AI, making its security cloud more intelligent with each new bit of data.

As this security cloud becomes more robust over time, the company's customers benefit, attracting new customers -- and more data -- along the way. With this additional data from its new customers, CrowdStrike's security capabilities are further strengthened, creating a powerful network effect that grows more robust with each new customer.

This network effect has given the company a massive advantage over its peers -- many of whom have only begun talking about ways to incorporate AI and ML into their operations now that it has become trendy to do so.

For example, despite Microsoft being seen as a leader in the AI and ML industry with its ties to OpenAI, it is rapidly losing its cybersecurity market share to CrowdStrike. Recently surpassing Microsoft's 16% share of the endpoint detection and response (EDR) market with its own 18% share, CrowdStrike aims to gobble up the remaining 47% of the market that outdated, legacy providers hold. Adding 3 percentage points of market share in 2022 alone, the company's high growth rates could make it a true dominator of the EDR industry in the not-so-distant future.

Posting 42% revenue growth and a free cash flow (FCF) margin of 14% in its first quarter -- even after accounting for the effects of stock-based compensation -- CrowdStrike brings a promising blend of growth and cash generation. Furthermore, the company closed 50% more deals with new customers who bought eight or more modules, highlighting its ability to attract clients looking to consolidate their security needs.

With a price-to-sales (P/S) ratio of 16, CrowdStrike's valuation is much lower than it has been historically -- but is by no means cheap. While its leadership position, early FCF generation, and remaining market share growth runway make the company a great winner to add to in June, investors must remember to think at least a decade ahead when buying a premium stock like CrowdStrike.

2. Old Dominion Freight Line

While the Nasdaq-100 index may not immediately have you thinking about less-than-truckload (LTL) shipping, Old Dominion Freight Line was added to the index in 2022 after more than tripling its share price in the three years prior.

Generating 70% of its revenue from smaller truckload deliveries made the next day, or on the second day, Old Dominion commands a respectable 12% market share of the LTL industry in North America. Though this market share may make it only the second-largest in its space, Old Dominion's dominant efficiency makes it a true leader in the LTL niche.

Consider the company's return on invested capital (ROIC) and net profit margin compared to its main peers.

ODFL Profit Margin Chart.

ODFL Profit Margin data by YCharts.

ROIC is a metric used to measure a company's profitability compared to its debt and equity. Generally, a figure above 20% is considered exceptional -- making Old Dominion's 37% mark very promising. Studying a company's ROIC has proven worthwhile for investors, as stocks with a high-and-rising percentage have outperformed their lower-scoring peers over the long haul.

While Saia and ArcBest have respectable ROICs of their own, they have only grown daily shipments by 21% and 12% since 2012, respectively, while Old Dominion has seen 75% growth.

Best yet, the company's 22% net profit margin is far and away the best, allowing for generous cash returns to shareholders through share repurchases and dividends. In just the last five years, Old Dominion has lowered its share count by 11% while more than quadrupling the size of its dividend payments.

With its shares still down over 10% following disappointing first-quarter results for 2023 that saw revenue and earnings per share (EPS) slide by 4% and 1%, now may be the time to double down on the company. Although the weak macroeconomic environment may temporarily hold the stock back, Old Dominion is happy to maintain its market share amid the down times, buying back shares as it waits for conditions to improve.

The company isn't blatantly cheap, at a price-to-earnings (P/E) ratio of 26, but this mark is now below its five-year averages. Furthermore, Old Dominion's annualized revenue and EPS growth rates of 12% and 25% across the last decade -- buoyed by a steadily rising ROIC -- make it look like the perfect double-down candidate after the company's recent sell-off.