ClearBridge Investments, an investment management company, released its “ClearBridge SMID Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy outperformed the benchmark Russell 2500 Growth Index in the fourth quarter with strong stock selection in the information technology (‘IT’) and consumer discretionary sectors overcoming detractors in the consumer staples sector. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge SMID Cap Growth Strategy featured stocks like Hamilton Lane Incorporated (NASDAQ:HLNE) in its Q4 2023 investor letter. Based in Conshohocken, Pennsylvania, Hamilton Lane Incorporated (NASDAQ:HLNE) is a private equity firm. On March 21, 2024, Hamilton Lane Incorporated (NASDAQ:HLNE) stock closed at $108.97 per share. One-month return of Hamilton Lane Incorporated (NASDAQ:HLNE) was -8.47%, and its shares gained 53.18% of their value over the last 52 weeks. Hamilton Lane Incorporated (NASDAQ:HLNE) has a market capitalization of $6.088 billion.
ClearBridge SMID Cap Growth Strategy stated the following regarding Hamilton Lane Incorporated (NASDAQ:HLNE) in its fourth quarter 2023 investor letter:
“We used the fourth quarter as a period of reflection and evaluation, eliminating positions where we felt our thesis was weakening while adding to new and existing holdings we felt were positioned well for years to come. Ultimately, this resulted in us initiating four new positions and exiting four others.
We added a new position in Hamilton Lane Incorporated (NASDAQ:HLNE), in the financials sector. The company is a fast-growing alternative investment manager with the vast majority of earnings coming from stable management fees, and we believe its history of controlling operating expense growth will help lead to strong earnings growth.”
A financial advisor navigating a stock exchange board with a magnifying glass.
Hamilton Lane Incorporated (NASDAQ:HLNE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Hamilton Lane Incorporated (NASDAQ:HLNE) was held by 12 hedge fund portfolios, up from 9 in the previous quarter, according to our database.
We discussed Hamilton Lane Incorporated (NASDAQ:HLNE) in another article and shared TimesSquare Capital U.S. Small Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.