ClearBridge Investments, an investment management firm, released its fourth-quarter 2022 “ClearBridge Multi Cap Growth Strategy” 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 six of the seven sectors on an absolute basis in which it was invested. Health care, industrials, and communication services sectors were the primary contributors, while IT sector detracted from performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Multi Cap Growth Strategy highlighted stocks like Airbnb, Inc. (NASDAQ:ABNB) in its Q4 2022 investor letter. Headquartered in San Francisco, California, Airbnb, Inc. (NASDAQ:ABNB) offers platform that enables hosts to offer stays and experiences to guests. On February 17, 2023, Airbnb, Inc. (NASDAQ:ABNB) stock closed at $131.60 per share. One-month return of Airbnb, Inc. (NASDAQ:ABNB) was 29.94%, and its shares lost 24.76% of their value over the last 52 weeks. Airbnb, Inc. (NASDAQ:ABNB) has a market capitalization of $83.326 billion.
ClearBridge Multi Cap Growth Strategy made the following comment about Airbnb, Inc. (NASDAQ:ABNB) in its Q4 2022 investor letter:
“Names like Airbnb, Inc. (NASDAQ:ABNB) and data warehouse software provider Snowflake (SNOW), which we added to during the quarter, offer better than average growth exposure with strong margins and cash generation that should allow the Strategy to capture better upside in markets with greater price momentum. We partner these higher-growth names with the stability, predictability and economic insensitivity provided by our large cap health care positions. We are striving to strike a balance in the portfolio across varying growth rates, consumer and enterprise as well as international and domestic equity markets.”
Photo by Andrea Davis on Unsplash
Airbnb, Inc. (NASDAQ:ABNB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 58 hedge fund portfolios held Airbnb, Inc. (NASDAQ:ABNB) at the end of the third quarter, which was 57 in the previous quarter.
We discussed Airbnb, Inc. (NASDAQ:ABNB) in another article and shared the list of stocks recently downgraded by analysts. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 10 Best Annuity Companies in the US
- 10 Best Stocks to Buy for Income
- 10 Best Performing Warren Buffett Stocks in 2023
Disclosure: None. This article is originally published at Insider Monkey.
