ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Growth Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark index. The overall stock selection impacted the performance of the strategy in the quarter. The strategy also posted losses in nine sectors among the 11 sectors it invested in. IT and healthcare sectors were the primary detractors of the strategy. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like The Sherwin-Williams Company (NYSE:SHW) in the Q3 2022 investor letter. Headquartered in Cleveland, Ohio, The Sherwin-Williams Company (NYSE:SHW) manufacturers and distributes paints, coatings, and related products. On November 4, 2022, The Sherwin-Williams Company (NYSE:SHW) stock closed at $216.23 per share. One-month return of The Sherwin-Williams Company (NYSE:SHW) was 5.07% and its shares lost 32.60% of their value over the last 52 weeks. The Sherwin-Williams Company (NYSE:SHW) has a market capitalization of $56.034 billion.
ClearBridge Investments made the following comment about The Sherwin-Williams Company (NYSE:SHW) in its Q3 2022 investor letter:
“The third strategy is buying growth companies with idiosyncratic or stock-specific catalysts unrelated to the direction of the market like The Sherwin-Williams Company (NYSE:SHW). The stock is an example of a company we categorize in our cyclical bucket that should experience a step change in earnings over the medium to long term with solid execution and its ability to pass through price increases. While relative performance has been challenged by binary decisions around a handful of mega cap technology stocks, we’re entering a lower-growth period in which we’ve historically delivered strong relative results from our balanced approach.”
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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, 52 hedge fund portfolios held The Sherwin-Williams Company (NYSE:SHW) at the end of the second quarter which was 54 in the previous quarter.
We discussed The Sherwin-Williams Company (NYSE:SHW) in another article and shared the best long-term dividend stocks to invest in. In addition, please check out our hedge fund investor letters Q3 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.