Amid a tech stock resurgence, this large-cap growth fund manager seeks opportunities elsewhere

CNBC2021-06-18

One growth stock fund manager is keeping a toe in reopening-themed stocks, even as her peers snap up the tech shares that are often the staples of growth strategies. Tech stocks have bounced in June, ...

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精彩评论

GeoLegends
2021-06-18
GeoLegends
The sell-off is real. Tech stocks ftw
JJ_Lincoln
2021-06-18
JJ_Lincoln
Like and comment please
BK_001
2021-06-18
BK_001
Like and comment please
Leeshirl
2021-06-18
Leeshirl
Interesting read
Dash2897
2021-06-18
Dash2897
Good
Shearman
2021-06-18
Shearman
Awesome

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Margaret Vitrano of ClearBridge Investments, which was managing $184 billion as of March, is looking for growth opportunities in less typical places.\n“We try to think long term and think about constructing a portfolio that does well in different kinds of markets,” she said. “When [market] leadership changes, we want to have protection.”\nSome of the best-performing stocks in ClearBridge’s large-cap growth portfolio this year include UPS,Grainger,Ulta and Home Depot, Vitrano told CNBC. Those companies aren’t typically thought of as falling in the “growth” category.\nGrowth stocks — which had outperformed value in recent years — have lagged in 2021 as investors monitor rising prices and worry about the possibility of higher interest rates. But with bond yields retreating and some believing inflation will be temporary, growth stocks are coming back in vogue.\nThe Russell 1000 Value Index is up about 14% for 2021, compared with its growth counterpart’s gain of more than 8%.\nHowever, the Russell 1000 Growth Index is ahead for the month of June, registering a gain of about 2.6% versus the value index’s loss of 2.6%.\nSelective on tech\n“We’ve been underweight tech for a while. That was a headwind for us in performance last year. But certainly in a reopening environment, that’s going to help us,” Vitrano said.\nShe believes the market has moved from early in the economic cycle into a midcycle period “where the market’s trying to figure out the next direction.”\n“You certainly don’t want to sell all your growth,” Vitrano said. “If this inflation really is transitory, then I think growth stocks are going to be just fine over the next couple of years.”\nClearBridge’s large-cap growth fund’s top three holdings are classic Big Tech names Amazon,Facebook and Microsoft as of June, according to FactSet. The portfolio also includes growth-at-a-reasonable-price names, opportunistic growth stocks and high-beta stocks, Vitrano said.\nVitrano recommends having some procyclical exposure — “a broader exposure in the portfolio than I probably would have said two years ago.”\nThe portfolio manager said she’s also spending more time looking at health-care names, which tend to be more idiosyncratic and not as correlated with macroeconomic trends.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":166832987,"gmtCreate":1624000935449,"gmtModify":1634024312659,"author":{"id":"3584748254057781","authorId":"3584748254057781","name":"GeoLegends","avatar":"https://static.tigerbbs.com/9b58fc6a4f5903eabaf4a377779a7a2f","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3584748254057781","authorIdStr":"3584748254057781"},"htmlText":"The sell-off is real. Tech stocks ftw","listText":"The sell-off is real. Tech stocks ftw","text":"The sell-off is real. Tech stocks ftw","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166832987","repostId":1152038469,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":166344041,"gmtCreate":1623993892383,"gmtModify":1634024413590,"author":{"id":"3587086279368061","authorId":"3587086279368061","name":"JJ_Lincoln","avatar":"https://static.tigerbbs.com/d6eb81e5b9b47422e1f64723c575d134","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3587086279368061","authorIdStr":"3587086279368061"},"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166344041","repostId":1152038469,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":166975539,"gmtCreate":1623990120521,"gmtModify":1634024493955,"author":{"id":"3575029530877311","authorId":"3575029530877311","name":"BK_001","avatar":"https://static.tigerbbs.com/ae6c60f25dc2e498b6aa2bcc99405def","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3575029530877311","authorIdStr":"3575029530877311"},"htmlText":"Like and comment please","listText":"Like and comment please","text":"Like and comment please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166975539","repostId":1152038469,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":166955183,"gmtCreate":1623989387542,"gmtModify":1631891838440,"author":{"id":"3561776872020254","authorId":"3561776872020254","name":"Leeshirl","avatar":"https://static.tigerbbs.com/20a497757395d7a3d03c08d260f164ff","vip":1,"crmLevel":7,"crmLevelSwitch":0,"idStr":"3561776872020254","authorIdStr":"3561776872020254"},"htmlText":"Interesting read","listText":"Interesting read","text":"Interesting read","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166955183","repostId":1152038469,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":166963137,"gmtCreate":1623988398029,"gmtModify":1634024535656,"author":{"id":"3574984019579159","authorId":"3574984019579159","name":"Dash2897","avatar":"https://static.tigerbbs.com/2ee75b01ecb536302d12eab10806834c","vip":1,"crmLevel":3,"crmLevelSwitch":0,"idStr":"3574984019579159","authorIdStr":"3574984019579159"},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166963137","repostId":1152038469,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":166915304,"gmtCreate":1623987849408,"gmtModify":1634024546942,"author":{"id":"3575689450566294","authorId":"3575689450566294","name":"Shearman","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"3575689450566294","authorIdStr":"3575689450566294"},"htmlText":"Awesome","listText":"Awesome","text":"Awesome","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/166915304","repostId":1152038469,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":90,"commentSize":22,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1152038469"}