ClearBridge Investments, an investment management firm, published its “Large Cap Growth Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Large Cap Growth Strategy underperformed its Russell 1000 Growth Index benchmark during the first quarter. On an absolute basis, the Strategy suffered losses across seven of the eight sectors in which it was invested (out of 11 sectors total). The leading detractors of performance were in the communication services and information technology (IT) sectors, while the financials sector was a contributor. Try to spend some time taking a look at the fund’s top 5 holdings to be informed about their best picks for 2022.
In its Q1 2022 investor letter, ClearBridge Investments Large Cap Growth Strategy mentioned United Parcel Service, Inc. (NYSE:UPS) and explained its insights for the company. Founded in 1907, United Parcel Service, Inc. (NYSE:UPS) is an Atlanta, Georgia-based multinational shipping & receiving and supply chain management company with a $163.7 billion market capitalization. United Parcel Service, Inc. (NYSE:UPS) delivered a -12.28% return since the beginning of the year, while its 12-month returns are up by 4.66%. The stock closed at $188.02 per share on April 15, 2022.
Here is what ClearBridge Investments Large Cap Growth Strategy has to say about United Parcel Service, Inc. (NYSE:UPS) in its Q1 2022 investor letter:
“We manage the Strategy to promote diversification and participate through the full market cycle, especially during turbulent periods like the current one. The unusual confluence of factors experienced recently has meant that some typically defensive sectors in the portfolio like consumer staples or health care have not been as defensive as one would expect. While portfolio construction hurt relative returns when a narrow band of mega cap growth names dominated performance, first-quarter underperformance was due to lackluster stock selection. United Parcel Service (NYSE:UPS), a key provider of delivery services for both B2B and B2C commerce, continued to execute well with its pricing power and focus on improving margins (better, not bigger strategy).”
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Our calculations show that United Parcel Service, Inc. (NYSE:UPS) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. United Parcel Service, Inc. (NYSE:UPS) was in 55 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 42 funds in the previous quarter. United Parcel Service, Inc. (NYSE:UPS) delivered a -10.67% return in the past 3 months.
In April 2022, we published an article that includes United Parcel Service, Inc. (NYSE:UPS) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q1 page.
Disclosure: None. This article is originally published at Insider Monkey.
