ClearBridge Investments, an investment management firm, published its “Global Infrastructure Value Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. On an absolute basis, the Strategy delivered gains across six of the nine sectors in which it was invested (out of 11 total) in the third quarter, with the airports and energy infrastructure sectors the leading contributors and the rail and toll roads sectors the main detractors. On a relative basis, measured against the S&P Global Infrastructure Index, the ClearBridge Global Infrastructure Value Strategy underperformed during the third quarter. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
ClearBridge Global Infrastructure Value Strategy, in its Q3 2021 investor letter, mentioned Exelon Corporation (NYSE: EXC) and discussed its stance on the firm. Exelon Corporation is a Chicago, Illinois-based energy company with a $54.4 billion market capitalization. EXC delivered a 31.71% return since the beginning of the year, while its 12-month returns are up by 32.94%. The stock closed at $55.61 per share on December 28, 2021.
Here is what ClearBridge Global Infrastructure Value Strategy has to say about Exelon Corporation in its Q3 2021 investor letter:
“Turning to the U.S. and Canada region, U.S. electric utility Exelon performed well during the quarter. Exelon is a U.S. energy provider with one of the cleanest and lowest-cost power generation fleets. Its utilities serve millions of electric and gas customers across Delaware, Illinois, Maryland, New Jersey, Pennsylvania and the District of Columbia. The share price of Exelon benefited from rising power prices and potential federal support for nuclear energy.”
Based on our calculations, Exelon Corporation (NYSE: EXC) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. EXC was in 36 hedge fund portfolios at the end of the third quarter of 2021, compared to 35 funds in the previous quarter. Exelon Corporation (NYSE: EXC) delivered a 15.37% return in the past 3 months.
In October this year, we also shared another hedge fund’s views on EXC 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.