Carillon Tower Advisers, an investment management firm, published its “Carillon Clarivest Capital Appreciation Fund” first quarter 2022 investor letter – a copy of which can be downloaded here. At the start of the quarter, the Carillon ClariVest Capital Appreciation Fund (the “Fund”), as compared to the Russell 1000® Growth Index, was most overweight in the information technology and healthcare sectors and most underweight in communication services and real estate. At the end of the quarter, the portfolio remained the most overweight in information technology and healthcare and the most underweight in communication services and real estate. Within the universe of the Russell 1000 Growth Index, energy performed the best while communication services and materials lagged. 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, Carillon Clarivest Capital Appreciation Fund mentioned The Home Depot, Inc. (NYSE:HD) and explained its insights for the company. Founded in 1978, The Home Depot, Inc. (NYSE:HD) is an Atlanta, Georgia-based multinational home improvement retail corporation with a $281.8 billion market capitalization. The Home Depot, Inc. (NYSE:HD) delivered a -33.91% return since the beginning of the year, while its 12-month returns are down by -14.70%. The stock closed at $274.27 per share on June 30, 2022.
Here is what Carillon Clarivest Capital Appreciation Fund has to say about The Home Depot, Inc. (NYSE:HD) in its Q1 2022 investor letter:
“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. Home Depot (NYSE:HD), the home improvement retailer, reported quarterly results that beat consensus on the top line, but noted uncertainty from ongoing inflation and supply chain constraints, dampening the outlook.”
Our calculations show that The Home Depot, Inc. (NYSE:HD) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. The Home Depot, Inc. (NYSE:HD) was in 75 hedge fund portfolios at the end of the first quarter of 2022, compared to 68 funds in the previous quarter. The Home Depot, Inc. (NYSE:HD) delivered a -8.37% return in the past 3 months.
In June 2022, we also shared another hedge fund’s views on The Home Depot, Inc. (NYSE:HD) 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.
