ClearBridge Investments, a global equity manager, recently published first-quarter 2026 commentary for its “Large Cap Growth Strategy”. A copy of the letter can be downloaded here. Following the outbreak of the Middle East conflict, the market experienced a significant decline in growth stocks, resulting in substantial losses. In the quarter, the S&P 500 Index fell 4.3% while the benchmark Russell 1000 Growth Index declined 9.8%, compared to the Russell 1000 Value Index’s 2.1% gain. In a volatile environment, the ClearBridge Large Cap Growth Strategy outperformed its benchmark, benefiting from a shift away from technology and momentum stocks that led the market in 2025. The strategy saw a positive reversal in communication services and strong support from cyclical growth sectors like industrials, materials, and parts of IT. The Strategy repositioned its portfolio to increase exposure in semiconductors and biopharmaceuticals, and exited positions with turnaround delays to maintain discipline. In addition, please check the Strategy’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, ClearBridge Large Cap Growth Strategy highlighted stocks such as Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is a biopharmaceutical company that discovers and commercializes therapeutics based on ribonucleic acid interference. The one-month return of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) was 3.16%, and its shares gained 44.62% of their value over the last 52 weeks. On April 8, 2026, Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) stock closed at $327.25 per share, with a market capitalization of $43.66 billion.
ClearBridge Large Cap Growth Strategy stated the following regarding Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) in its Q1 2026 investor letter:
“We also added two new positions in the health care sector with the additions of Roche and Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY). Alnylam has pioneered RNAi drugs that work to “silence” certain proteins created by the body that can malfunction and cause disease. The company’s key product, Amvuttra, treats a condition that leads to protein misfolding in the heart and, eventually, heart failure (cardiomyopathy). While Amvuttra entered the cardiomyopathy market to strong early success in 2025, missed expectations heading into 2026 provided a chance to buy the stock at valuation levels we think incorporate conservative assumptions for its commercial opportunity and very little value for any other pipeline drugs. Alnylam also reached free cash flow breakeven in 2025, a milestone that we seek in biotech investments to derisk some downside potential.”
Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 67 hedge fund portfolios held Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) at the end of the fourth quarter, compared to 72 in the previous quarter. While we acknowledge the risk and potential of Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) and shared the list of best future stocks to buy for the next 5 years. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
