ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy outperformed its benchmark, the Russell 1000 Growth Index. The strategy gained in seven out of nine sectors it invested in the quarter on an absolute basis. Healthcare and industrials sectors were the primary contributors while the consumer discretionary sector detracted from the performance. Overall stock selection and sector allocation contributed to the strategy’s performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Large Cap Growth Strategy highlighted stocks like W.W. Grainger, Inc. (NYSE:GWW) in the Q4 2022 investor letter. Headquartered in Lake Forest, Illinois, W.W. Grainger, Inc. (NYSE:GWW) is a maintenance, repair, and operating products and services distributor. On March 6, 2023, W.W. Grainger, Inc. (NYSE:GWW) stock closed at $699.65 per share. One-month return of W.W. Grainger, Inc. (NYSE:GWW) was 3.15%, and its shares gained 42.76% of their value over the last 52 weeks. W.W. Grainger, Inc. (NYSE:GWW) has a market capitalization of $35.122 billion.
ClearBridge Large Cap Growth Strategy made the following comment about W.W. Grainger, Inc. (NYSE:GWW) in its Q4 2022 investor letter:
“W.W. Grainger, Inc. (NYSE:GWW) also has a visible growth runway, with less than 10% market share in a highly fragmented maintenance, repair and operations business. The company cut catalog prices early in the pandemic to maintain revenues and is now benefiting from its Zoro online platform growing revenues at a high-double-digit rate.”
W.W. Grainger, Inc. (NYSE:GWW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 34 hedge fund portfolios held W.W. Grainger, Inc. (NYSE:GWW) at the end of the fourth quarter which was 34 in the previous quarter.
We discussed W.W. Grainger, Inc. (NYSE:GWW) in another article and shared the list of dividend stocks that beat the market last five years. 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.