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 The Sherwin-Williams Company (NYSE:SHW) in the fourth quarter 2022 investor letter. Headquartered in Cleveland, Ohio, The Sherwin-Williams Company (NYSE:SHW) is a paints, coatings, and related products manufacturer and distributor. On March 6, 2023, The Sherwin-Williams Company (NYSE:SHW) stock closed at $224.47 per share. One-month return of The Sherwin-Williams Company (NYSE:SHW) was -7.64%, and its shares lost 7.61% of their value over the last 52 weeks. The Sherwin-Williams Company (NYSE:SHW) has a market capitalization of $59.012 billion.
ClearBridge Large Cap Growth Strategy made the following comment about The Sherwin-Williams Company (NYSE:SHW) in its Q4 2022 investor letter:
“A third approach to return generation is purchasing idiosyncratic businesses that largely control their own destiny. We saw mixed results from this group in the fourth quarter, with paint and coatings maker The Sherwin-Williams Company (NYSE:SHW) benefiting from significant pricing power that will allow it to grow earnings handsomely with only modest revenue increases. “
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The Sherwin-Williams Company (NYSE:SHW) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 64 hedge fund portfolios held The Sherwin-Williams Company (NYSE:SHW) at the end of the fourth quarter which was 63 in the previous quarter.
We discussed The Sherwin-Williams Company (NYSE:SHW) in another article and shared the list of S&P 500 dividend aristocrats popular among hedge funds. 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.
