ClearBridge Investments, an investment management firm, published its “Global Growth Strategy” third-quarter 2022 investor letter – a copy of which can be downloaded here. During the third quarter, the ClearBridge Global Growth Strategy outperformed its MSCI ACWI benchmark. On an absolute basis, the Strategy saw losses across nine of the 10 sectors in which it was invested (out of 11 total) with the consumer discretionary sector the lone contributor while the health care, financials and information technology (IT) sectors were the primary detractors. Try to spare some time to check the fund’s top 5 holdings for you to have an idea about their best stock picks this 2022.
In its Q3 2022 investor letter, ClearBridge Global Growth Strategy mentioned Sony Group Corporation (NYSE:SONY) and explained its insights for the company. Founded in 1946, Sony Group Corporation (NYSE:SONY) is a Tokyo, Japan-based multinational conglomerate company with a $93.4 billion market capitalization. Sony Group Corporation (NYSE:SONY) delivered a -40.28% return since the beginning of the year, while its 12-month returns are down by -37.62%. The stock closed at $75.48 per share on November 09, 2022.
Here is what ClearBridge Global Growth Strategy has to say about Sony Group Corporation (NYSE:SONY) in its Q3 2022 investor letter:
“Like the U.K., Japan is another outlier in a global regime of monetary tightening as its government has kept rates low and actively intervened in currency markets to slow the decline of the yen. We continued to increase exposure to Japan with the purchase of Sony (NYSE:SONY) in the consumer discretionary sector. Sony’s diverse lines of business span numerous industries, including video games, semiconductors, TV and music entertainment, and financial services. The majority of its $88 billion in revenue is generated from consolidated markets where it has a leading position. Finally, Sony has completed its transition from a low-quality business with similar margins and reduced visibility to an industry leader with elevated margins, a greater proportion of recurring revenues and more first-party content.”
Sony, PS4, PlayStation, Games
Our calculations show that Sony Group Corporation (NYSE:SONY) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Sony Group Corporation (NYSE:SONY) was in 26 hedge fund portfolios at the end of the second quarter of 2022, compared to 26 funds in the previous quarter. Sony Group Corporation (NYSE:SONY) delivered a -12.05% return in the past 3 months.
In May 2022, we also shared another hedge fund’s views on Sony Group Corporation (NYSE:SONY) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters 2022 Q3 page.
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Disclosure: None. This article is originally published at Insider Monkey.
