ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy outperformed its Russell 3000 Index benchmark during the fourth quarter. On an absolute basis, the Strategy had gains in nine of 10 sectors in which it was invested (out of 11 sectors total). The main contributors were the IT, consumer discretionary, and health care sectors. The communication services sector was the sole detractor. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge Investments Sustainability Leaders Strategy, in its Q4 2021 investor letter, mentioned Broadcom Inc. (NASDAQ:AVGO) and discussed its stance on the firm. Founded in 1961, Broadcom Inc. (NASDAQ:AVGO) is a San Jose, California-based semiconductor manufacturing company with a $259.1 billion market capitalization, and is currently spearheaded by its CEO, Hock E. Tan. Broadcom Inc. (NASDAQ:AVGO) delivered a -4.59% return since the beginning of the year, while its 12-month returns are up by 31.20%. The stock closed at $634.85 per share on April 04, 2022.
Here is what ClearBridge Investments Sustainability Leaders Strategy has to say about Broadcom Inc. (NASDAQ:AVGO) in its Q4 2021 investor letter:
“However, ClearBridge portfolio companies are responding by supporting their workforces and showing resilience in adapting and thriving. Semiconductor companies ClearBridge owns and engages with have been successful in advancing vaccinations in their global supply chains. In Malaysia, for example, Broadcom has taken part in PIKAS, a public-private partnership vaccination program focusing on the workforce in critical manufacturing sectors. By the summer of 2021 Broadcom was able to get over 90% of workers in its Penang factory at least one dose of vaccine, and roughly 73% fully vaccinated. Companies in the program also pay the administration cost for vaccinations including cases where the employee is no longer employed by the company before full immunization of the employee.”
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Our calculations show that Broadcom Inc. (NASDAQ:AVGO) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. Broadcom Inc. (NASDAQ:AVGO) was in 62 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 50 funds in the previous quarter. Broadcom Inc. (NASDAQ:AVGO) delivered a -5.38% return in the past 3 months.
In March 2022, we also shared another hedge fund’s views on Broadcom Inc. (NASDAQ:AVGO) 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.
