ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy outperformed its Russell 3000 Index benchmark during the third quarter. On an absolute basis, the Strategy had gains in six of 10 sectors in which it was invested (out of 11 sectors total). You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
ClearBridge Sustainability Leaders Strategy, in its Q3 2021 investor letter, mentioned Costco Wholesale Corporation (NASDAQ: COST) and discussed its stance on the firm. Costco Wholesale Corporation is an Issaquah, Washington-based big-box store company with a $251.2 billion market capitalization. COST delivered a -0.17% return since the beginning of the year, while its 12-month returns are up by 49.08%. The stock closed at $566.71 per share on January 03, 2022
Here is what ClearBridge Sustainability Leaders Strategy has to say about Costco Wholesale Corporation in its Q3 2021 investor letter:
“The Strategy modestly outperformed the benchmark; consistent with our fundamental approach that seeks balanced exposure to industries and the growth and value spectrum, performance was driven by companies from diverse sectors. Membership-only big-box retail store Costco continued to execute well, managing costs and enjoying strong membership trends.”
Based on our calculations, Costco Wholesale Corporation (NASDAQ: COST) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. COST was in 55 hedge fund portfolios at the end of the third quarter of 2021, compared to 54 funds in the previous quarter. Costco Wholesale Corporation (NASDAQ: COST) delivered a 28.76% return in the past 3 months.
In December 2021, we also shared another hedge fund’s views on COST in another article. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.
Disclosure: None. This article is originally published at Insider Monkey.