ClearBridge Investments, an investment management firm, published its “Global Infrastructure Value Strategy” fourth 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 fourth quarter, with the electric, rail, and communications sectors the leading contributors and the airports and energy infrastructure sectors the detractors. On a relative basis, measured against the S&P Global Infrastructure Index, the ClearBridge Global Infrastructure Value Strategy outperformed during the fourth quarter. Overall stock selection and sector allocation contributed to relative results. Stock selection in the rail, electric, toll roads, and renewables sectors, underweights to the airport and gas sectors and overweight to the communications and rail sectors aided the most. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Global Infrastructure Value Strategy, in its Q4 2021 investor letter, mentioned Union Pacific Corporation (NYSE:UNP) and discussed its stance on the firm. Founded in 1969, Union Pacific Corporation (NYSE:UNP) is a Omaha, Nebraska-based transportation company with a $176.2 billion market capitalization, and is currently spearheaded by its CEO, Lance M. Fritz. Union Pacific Corporation (NYSE:UNP) delivered a 9.83% return since the beginning of the year, while its 12-month returns are up by 25.53%. The stock closed at $276.69 per share on March 30, 2022.
Here is what ClearBridge Investments Global Infrastructure Value Strategy has to say about Union Pacific Corporation (NYSE:UNP) in its Q4 2021 investor letter:
“On a regional basis, the U.S. and Canada was the top contributor to quarterly performance, of which U.S. rail operator Union Pacific was among the lead performers. Union Pacific is the largest listed railroad company in North America. With a rail network of over 32,000 route miles connecting Pacific Coast and Gulf Coast ports with the Midwest and Eastern U.S. gateways, its freight transportation services are crucial to the functioning of the U.S. economy.”
Our calculations show that Union Pacific Corporation (NYSE:UNP) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Union Pacific Corporation (NYSE:UNP) was in 59 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 63 funds in the previous quarter. Union Pacific Corporation (NYSE:UNP) delivered a 10.22% return in the past 3 months.
In January 2022, we also shared another hedge fund’s views on Union Pacific Corporation (NYSE:UNP) 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.
