ClearBridge Investments, an investment management firm, published its “Mid Cap Growth Strategy” first quarter 2021 investor letter – a copy of which can be downloaded here. During the first quarter, the ClearBridge Mid Cap Growth Strategy outperformed the benchmark Russell Midcap Growth Index. 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 Petco Health and Wellness Company, Inc. (NASDAQ: WOOF), and shared their insights on the company. Petco Health and Wellness Company, Inc. is a San Diego, California-based pet retailer that currently has a $6.9 billion market capitalization. Since the past month, WOOF delivered a -3.98% return, and as of June 02, 2021, the stock closed at $22.90 per share.
Here is what ClearBridge Investments has to say about Petco Health and Wellness Company, Inc. in its Q1 2021 investor letter:
“We also participated in two IPOs during the quarter, (including) Petco Health and Wellness, the leading pet retailer in the U.S. Petco is benefiting from the secular trend of higher pet ownership. The company has taken steps to become a multi-channel retailer, combining online sales with traffic driving services to its stores like vet clinics and grooming that should drive above-market growth.”
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Our calculations show that Petco Health and Wellness Company, Inc. (NASDAQ: WOOF) 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, Petco Health and Wellness Company, Inc. was in 25 hedge fund portfolios. WOOF delivered a 20.02% 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.
