ClearBridge Investments, an investment management company, released its “ClearBridge International Value Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. During the quarter, the strategy outperformed its MSCI All Country World Ex-U.S. Index. Only the real estate sector contributed positively to the strategy’s performance in the quarter. At the same time, the significant detractors were the financials, health care, consumer discretionary, and industrials sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like Nutrien Ltd. (NYSE:NTR) in the Q3 2022 investor letter. Headquartered in Saskatoon, Canada, Nutrien Ltd. (NYSE:NTR) is a fertilizer company. On December 1, 2022, Nutrien Ltd. (NYSE:NTR) stock closed at $78.56 per share. One-month return of Nutrien Ltd. (NYSE:NTR) was 7.19% and its shares gained 16.59% of their value over the last 52 weeks. Nutrien Ltd. (NYSE:NTR) has a market capitalization of $41.141 billion.
ClearBridge Investments made the following comment about Nutrien Ltd. (NYSE:NTR) in its Q3 2022 investor letter:
“However, we believe this is exactly the kind of environment that separates the highest-quality companies from their peers and allows them to strengthen their competitive positioning. For example, Nutrien Ltd. (NYSE:NTR), a Canadian fertilizer company, was a top contributor during the quarter. While the war in Ukraine and economic sanctions on Russia have significantly reduced the output of two of the world’s largest agricultural producers, Nutrien has benefited from a strong global agricultural cycle and from farmers seeking to increase their output and capitalize on higher agricultural prices.”
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Nutrien Ltd. (NYSE:NTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 52 hedge fund portfolios held Nutrien Ltd. (NYSE:NTR) at the end of the third quarter which was 48 in the previous quarter.
We discussed Nutrien Ltd. (NYSE:NTR) in another article and shared the list of top losers on November 30. 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.