ClearBridge Investments, an investment management company, published its “ClearBridge Small Cap Value Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 2000 Value Index. On an absolute basis, the strategy gained in nine out of eleven sectors it was invested in during the quarter. Industrials, financials, and consumer discretionary sectors were the leading contributors while the healthcare sector was the primary detractor. Overall, stock selection and sector allocation contributed to the relative performance of the strategy in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Small Cap Value Strategy highlighted stocks like Wabash National Corporation (NYSE:WNC) in the fourth quarter 2022 investor letter. Headquartered in Lafayette, Indiana, Wabash National Corporation (NYSE:WNC) manufactures and distributes connected solutions for the transportation, logistics, and distribution industries. On March 8, 2023, Wabash National Corporation (NYSE:WNC) stock closed at $27.18 per share. One-month return of Wabash National Corporation (NYSE:WNC) was -3.24%, and its shares gained 67.47% of their value over the last 52 weeks. Wabash National Corporation (NYSE:WNC) has a market capitalization of $1.291 billion.
ClearBridge Small Cap Value Strategy made the following comment about Wabash National Corporation (NYSE:WNC) in its Q4 2022 investor letter:
“One of the portfolio’s greatest contributors was Wabash National Corporation (NYSE:WNC), which designs, manufactures and distributes engineered solutions for the transportation, logistics and distribution industries. Continued strong demand for trailers helps drive sales for Wabash and benefited the stock price in the quarter. The company’s revamped pricing model has helped strengthen its margins and a growing backlog of new orders points to continued and greater potential value creation over the foreseeable future.”
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Wabash National Corporation (NYSE:WNC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 23 hedge fund portfolios held Wabash National Corporation (NYSE:WNC) at the end of the fourth quarter which was 18 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2022 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.
