ClearBridge Investments, an investment management firm, published its “Sustainability Leaders Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Sustainability Leaders Strategy underperformed its Russell 3000 Index benchmark during the first quarter. On an absolute basis, the Strategy had gains in five of 10 sectors in which it was invested (out of 11 sectors total). You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
ClearBridge Investments, in its Q1 2021 investor letter, mentioned Array Technologies, Inc. (NASDAQ: ARRY), and shared their insights on the company. Array Technologies, Inc. is an Albuquerque, New Mexico-based solar tracking solutions manufacturer that currently has a $1.9 billion market capitalization. Since the beginning of the year, ARRY delivered a -55.70% return, while its 12-month returns are down by -64.86%. As of June 03, 2021, the stock closed at $15.27 per share.
Here is what ClearBridge Investments has to say about Array Technologies, Inc. in its Q1 2021 investor letter:
“Array Technologies, meanwhile, also announced a secondary offering that weighed on sentiment. However, we believe the long-term fundamentals for renewables are attractive, and our solar stocks in fact raised guidance for 2021. Global commitments to solar and wind continue to grow, and the stocks should benefit from legislative catalysts such as the pending U.S. bill focused on infrastructure, the proposed CLEAN Future Act, which would provide support for material emissions reductions, and the Green Act, which would boost tax credits for renewables, storage and electric vehicles.”
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Our calculations show that Array Technologies, Inc. (NASDAQ: ARRY) does not belong in our list of the 30 Most Popular Stocks Among Hedge Funds. As of the end of the first quarter of 2021, Array Technologies, Inc. was in 30 hedge fund portfolios, compared to 29 funds in the fourth quarter of 2020. ARRY delivered a -40.18% return in the past 3 months.
The top 10 stocks among hedge funds returned 231.2% between 2015 and 2020, and outperformed the S&P 500 Index ETFs by more than 126 percentage points. We know it sounds unbelievable. You have been dismissing our articles about top hedge fund stocks mostly because you were fed biased information by other media outlets about hedge funds’ poor performance. You could have doubled the size of your nest egg by investing in the top hedge fund stocks instead of dumb S&P 500 ETFs. Here you can watch our video about the top 5 hedge fund stocks right now. All of these stocks had positive returns in 2020.
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Disclosure: None. This article is originally published at Insider Monkey.
