ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Growth Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Strategy lagged behind the benchmark in the quarter due to the decline in consumer staples and health care, which was somewhat offset by strength in financials and industrials. The Strategy posted gains in six of the nine sectors in which it was invested on an absolute basis. Overall stock selection detracted from performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.
ClearBridge Small Cap Growth Strategy featured stocks such as National Vision Holdings, Inc. (NASDAQ:EYE) in the fourth quarter 2023 investor letter. Headquartered in Duluth, Georgia, National Vision Holdings, Inc. (NASDAQ:EYE) is an optical retailer. On January 11, 2024, National Vision Holdings, Inc. (NASDAQ:EYE) stock closed at $20.66 per share. One-month return of National Vision Holdings, Inc. (NASDAQ:EYE) was 1.72%, and its shares lost 48.91% of their value over the last 52 weeks. National Vision Holdings, Inc. (NASDAQ:EYE) has a market capitalization of $1.617 billion.
ClearBridge Small Cap Growth Strategy stated the following regarding National Vision Holdings, Inc. (NASDAQ:EYE) in its fourth quarter 2023 investor letter:
“In consumer discretionary, underperformance was largely impacted by earlier challenges for National Vision Holdings, Inc. (NASDAQ:EYE), one of the largest retailers of eyeglasses, which had been hurt by optometric physician labor shortages and the unexpected loss of a 33-year relationship with Walmart. We have kept the position with the expectation that remote exam technology can alleviate the labor pressures.”
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National Vision Holdings, Inc. (NASDAQ:EYE) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 22 hedge fund portfolios held National Vision Holdings, Inc. (NASDAQ:EYE) at the end of third quarter which was 19 in the previous quarter.
We discussed National Vision Holdings, Inc. (NASDAQ:EYE) in another article and shared the list of worst performing growth stocks in 2023. 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.
