ClearBridge Investments, an investment management firm, published its “Global Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. During the fourth quarter, the ClearBridge Global Growth Strategy outperformed its MSCI ACWI benchmark. The Strategy delivered gains across eight of the nine sectors in which it was invested (out of 11 total), with the information technology (IT) and industrials sectors the primary contributors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Global Growth Strategy, in its Q4 2021 investor letter, mentioned Tesla, Inc. (NASDAQ:TSLA) and discussed its stance on the firm. Founded in 2003, Tesla, Inc. (NASDAQ:TSLA) is a Palo Alto, California-based vehicle manufacturing company with a $1.1 trillion market capitalization, and is currently spearheaded by its CEO, Elon Musk. Tesla, Inc. (NASDAQ:TSLA) delivered a 1.97% return since the beginning of the year, while its 12-month returns are up by 62.84%. The stock closed at $1,077.60 per share on March 31, 2022.
Here is what ClearBridge Investments Global Growth Strategy has to say about Tesla, Inc. (NASDAQ:TSLA) in its Q4 2021 investor letter:
“Within the growth universe we target, emerging growth stocks – the category with the highest revenue growth rates – significantly underperformed the overall growth categories in 2021 after leading performance in 2020. The pull-through effect on digitization, online access across industries, and spending to modernize outdated corporate infrastructures accelerated trends in a highly compressed time frame. Much of that trend slackened in 2021 and shares of these companies, while showing good top-line growth, saw slowing appreciation from the blistering pace in the prior year. With that moderating growth, multiples decelerated from 2020 highs. Bucking the headwinds among our emerging growth names was Tesla which saw continued sales momentum from their leadership positions in the key growth areas of electric vehicles.”
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Our calculations show that Tesla, Inc. (NASDAQ:TSLA)Tesla, Inc. (NASDAQ:TSLA) ranks 26th on our list of the 30 Most Popular Stocks Among Hedge Funds. Tesla, Inc. (NASDAQ:TSLA) was in 91 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 60 funds in the previous quarter. Tesla, Inc. (NASDAQ:TSLA) delivered a 0.68% return in the past 3 months.
In March 2022, we also shared another hedge fund’s views on Tesla, Inc. (NASDAQ:TSLA) in another article. You can find other letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q4 page.
Disclosure: None. This article is originally published at Insider Monkey.
