ClearBridge Investments, an investment management company, released its “ClearBridge Large Cap Value Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 1000 Value Index, in the third quarter. On an absolute basis, the energy and consumer discretionary sectors were the positive contributors among the 11 sectors the strategy invested in. However, the communication services and information technology sectors were the significant detractors. In addition, please check the fund’s top five holdings to know its best picks in 2022.
ClearBridge Investments highlighted stocks like Haleon plc (NYSE:HLN) in the Q3 2022 investor letter. Headquartered in Brentford, the United Kingdom, Haleon plc (NYSE:HLN) engages in the business of consumer healthcare products. On November 7, 2022, Haleon plc (NYSE:HLN) stock closed at $6.42 per share. One-month return of Haleon plc (NYSE:HLN) was 6.29% and in three months, its shares lost 9.70% of their value. Haleon plc (NYSE:HLN) has a market capitalization of $29.643 billion.
ClearBridge Investments made the following comment about Haleon plc (NYSE:HLN) in its Q3 2022 investor letter:
“We also initiated a new position in Haleon plc (NYSE:HLN), which has market leadership in several consumer health care brands (an area which we believe will be resilient in a challenging macroeconomic environment) and an attractive valuation given unique spinoff dynamics and a legal overhang related to legacy OTC products.”
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Haleon plc (NYSE:HLN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.
Disclosure: None. This article is originally published at Insider Monkey.