ClearBridge Investments, an investment management company, released its “ClearBridge All Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed the Russell 3000 Growth Index benchmark. The strategy gained in seven of the nine sectors in which it was invested in the quarter on an absolute basis. Healthcare and industrials sectors were the primary contributors while the consumer discretionary sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge All Cap Growth Strategy highlighted stocks like The Walt Disney Company (NYSE:DIS) in the Q4 2022 investor letter. Headquartered in Burbank, California, The Walt Disney Company (NYSE:DIS) is an entertainment company. On February 28, 2023, The Walt Disney Company (NYSE:DIS) stock closed at $99.61 per share. One-month return of The Walt Disney Company (NYSE:DIS) was -8.94%, and its shares lost 32.39% of their value over the last 52 weeks. The Walt Disney Company (NYSE:DIS) has a market capitalization of $181.969 billion.
ClearBridge All Cap Growth Strategy made the following comment about The Walt Disney Company (NYSE:DIS) in its Q4 2022 investor letter:
“We exited The Walt Disney Company (NYSE:DIS) to focus on areas of the media industry with better risk/reward. Disney has significant exposure to consumer spending that is showing early signs of weakening. We decided to move on from the name as its traditional linear programming business is dissolving more quickly than expected, while its Disney+ streaming business cannot offset the affiliate fees and advertising revenue that the company has relied on for years. Disney’s parks business has done well recently due to strong pricing power but we have concerns that consumers will continue to spend on such discretionary purchases in a recessionary environment. At this point in the cycle, we believe Netflix has more ways to innovate and improve profitability.”
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The Walt Disney Company (NYSE:DIS) is in 12th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 99 hedge fund portfolios held The Walt Disney Company (NYSE:DIS) at the end of the fourth quarter which was 112 in the previous quarter.
We discussed The Walt Disney Company (NYSE:DIS) in another article and shared the list of Ken Fisher’s 15 new purchases/additions.. 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.
