ClearBridge Investments, an investment management company, released its “ClearBridge Multi Cap Growth Strategy” third quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy underperformed the benchmark Russell 3000 Growth Index in the third quarter. The strategy posted losses in the seven out of eleven sectors in which it was invested, on an absolute basis. However, overall stock selection detracted from performance on a relative basis while overall sector allocation contributed. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Multi Cap Growth Strategy highlighted stocks like CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in the third quarter 2023 investor letter. Headquartered in Austin, Texas, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) offers cybersecurity products and services to stop breaches. On December 8, 2023, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) stock closed at $242.55 per share. One-month return of CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was 20.70%, and its shares gained 104.61% of their value over the last three months. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) has a market capitalization of $58.247 billion.
ClearBridge Multi Cap Growth Strategy made the following comment about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its third 2023 investor letter:
“While the Strategy continued to trail the benchmark in the third quarter, the performance gap narrowed due to improvement among our information technology (IT) holdings, notably cyber security software maker CrowdStrike Holdings, Inc. (NASDAQ:CRWD). A lower average market capitalization versus the benchmark, however, remained a headwind as small and mid-cap companies have been more impacted than large caps by tightening liquidity.”
Security personnel at their consoles, monitoring a global network of threats in real-time.
CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 69 hedge fund portfolios held CrowdStrike Holdings, Inc. (NASDAQ:CRWD) at the end of third quarter which was 65 in the previous quarter.
We discussed CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in another article and shared the list of best performing cybersecurity stocks in 2023. In addition, please check out our hedge fund investor letters Q3 2023 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.
