ClearBridge Investments, an investment management firm, published its “All Cap Growth Strategy” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge All Cap Growth Strategy underperformed its Russell 3000 Growth Index benchmark in the fourth quarter. On an absolute basis, the Strategy generated gains across seven of the eight sectors in which it was invested (out of 11 sectors total). The primary contributors to performance were the IT and health care sectors while the sole detractor was the communication services sector Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.
ClearBridge All Cap Growth Strategy, in its Q4 2021 investor letter, mentioned CrowdStrike Holdings, Inc. (NASDAQ:CRWD) and discussed its stance on the firm. Founded in 2011, CrowdStrike Holdings, Inc. (NASDAQ:CRWD) is a Sunnyvale, California-based cybersecurity technology company with a $52.8 billion market capitalization, and is currently spearheaded by its CEO, George Kurtz. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) delivered an 11.86% return since the beginning of the year, while its 12-month returns are up by 22.73%. The stock closed at $229.03 per share on April 04, 2022.
Here is what ClearBridge All Cap Growth Strategy has to say about CrowdStrike Holdings, Inc. (NASDAQ:CRWD) in its Q4 2021 investor letter:
“We took advantage of market volatility in the fourth quarter, using pullbacks to initiate eight new positions and add to recently established ones while closing another eight positions Seeding the Strategy with disruptive growth companies and broadening out the portfolio’s industry weightings have been central to our repositioning efforts in 2021. To this end, we added two new disruptors in the quarter: Etsy and CrowdStrike Holdings.
CrowdStrike is a leading cybersecurity software provider focused on next-generation endpoint protection. The company is a key beneficiary of the rise in security threats for enterprises globally and a needed solution to allow today’s hybrid work environment to function securely. We see a long runway for growth ahead as CrowdStrike continues to not only take share from legacy players in the large and growing market for endpoint security, but also to consolidate even larger portions of the security market. The company is profitable today, though we still see room for adjusted operating margins to increase meaningfully over time. Likewise, our position helps to close our significant underweight to the IT sector, in particular adding exposure to software and services.”
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Our calculations show that CrowdStrike Holdings, Inc. (NASDAQ:CRWD) failed to obtain a mark on our list of the 30 Most Popular Stocks Among Hedge Funds. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) was in 74 hedge fund portfolios at the end of the fourth quarter of 2021, compared to 74 funds in the previous quarter. CrowdStrike Holdings, Inc. (NASDAQ:CRWD) delivered a 15.48% return in the past 3 months.
In February 2022, we also shared another hedge fund’s views on CrowdStrike Holdings, Inc. (NASDAQ:CRWD) 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.
