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 NVIDIA Corporation (NASDAQ:NVDA) in the Q4 2022 investor letter. Headquartered in Santa Clara, California, NVIDIA Corporation (NASDAQ:NVDA) is a graphics, and compute and networking solutions provider. On March 6, 2023, NVIDIA Corporation (NASDAQ:NVDA) stock closed at $235.54 per share. One-month return of NVIDIA Corporation (NASDAQ:NVDA) was 6.21%, and its shares gained 9.46% of their value over the last 52 weeks. NVIDIA Corporation (NASDAQ:NVDA) has a market capitalization of $586.966 billion.
ClearBridge Large Cap Growth Strategy made the following comment about NVIDIA Corporation (NASDAQ:NVDA) in its Q4 2022 investor letter:
“Promoting diversification and managing risk continue to guide our transaction activity, with a focus on the earnings trajectory of existing and potential holdings leading to our most recent moves. We are directing our research efforts to identifying names that are closer to the bottom than the top in terms of earnings and valuations, adding to our positions in ASML, the leading supplier of high-end production equipment to chip makers, and NVIDIA Corporation (NASDAQ:NVDA), whose valuation has washed out due to weakness in gaming and crypto mining as well as slowing enterprise spending.”
Photo by Christian Wiediger on Unsplash
NVIDIA Corporation (NASDAQ:NVDA) is in 28th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 106 hedge fund portfolios held NVIDIA Corporation (NASDAQ:NVDA) at the end of the fourth quarter which was 89 in the previous quarter.
We discussed NVIDIA Corporation (NASDAQ:NVDA) in another article and shared the list of most promising metaverse stocks to buy. 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.
