ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Growth Strategy featured stocks such as Fox Factory Holding Corp. (NASDAQ:FOXF) in the fourth quarter 2023 investor letter. Headquartered in Duluth, Georgia, Fox Factory Holding Corp. (NASDAQ:FOXF) is a ride dynamics products manufacturer. On January 12, 2024, Fox Factory Holding Corp. (NASDAQ:FOXF) stock closed at $65.01 per share. One-month return of Fox Factory Holding Corp. (NASDAQ:FOXF) was 0.09%, and its shares lost 40.65% of their value over the last 52 weeks. Fox Factory Holding Corp. (NASDAQ:FOXF) has a market capitalization of $2.755 billion.
ClearBridge Small Cap Growth Strategy stated the following regarding Fox Factory Holding Corp. (NASDAQ:FOXF) in its fourth quarter 2023 investor letter:
“In the fourth quarter, consumer discretionary performance was negatively impacted by investor perception of an acquisition made by Fox Factory Holding Corp. (NASDAQ:FOXF), a manufacturer of components for mountain bikes and specialty vehicles. The company entering a new vertical was met with market skepticism. We remain optimistic on the company’s positioning and the longer-term growth opportunity in its core markets and have consequently held the position.”
marc-sendra-martorell-YACP3Ldw57M-unsplash
Fox Factory Holding Corp. (NASDAQ:FOXF) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Fox Factory Holding Corp. (NASDAQ:FOXF) at the end of third quarter which was 18 in the previous quarter.
We discussed Fox Factory Holding Corp. (NASDAQ:FOXF) in another article and shared Baron Small Cap Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
- 16 Best Mid-Cap Growth Stocks To Buy Now
- 10 Narrow Moat Stocks Hedge Funds Are Buying
- 30 Best Selling Yankee Candle Scents and Alternatives
Disclosure: None. This article is originally published at Insider Monkey.
