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ClearBridge Investments Invested in VTEX, Here’s Why You Should Too

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ClearBridge Investments, an investment management firm, published its “Select Strategy” third quarter 2021 investor letter – a copy of which can be downloaded here. The ClearBridge Select Strategy underperformed its Russell 3000 Index benchmark in the third quarter. On an absolute basis, the Strategy had gains in four of the 10 sectors in which it was invested during the quarter (out of 11 sectors total). The IT and real estate sectors were the primary contributors to performance while the communication services and consumer discretionary sectors were the main detractors. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

ClearBridge Select Strategy, in its Q3 2021 investor letter, mentioned VTEX (NYSE: VTEX) and discussed its stance on the firm. VTEX is a London, United Kingdom-based digital commerce platform with a $1.6 billion market capitalization. VTEX delivered a -18.38% return since the beginning of the year and it closed at $8.46 per share on January 06, 2022.

Here is what ClearBridge Select Strategy has to say about VTEX in its Q3 2021 investor letter:

“Also within the disruptors segment, we initiated a position in VTEX, an e-commerce and customer engagement software provider serving the higher end of the market in Latin America. VTEX enables large LatAm commerce companies and brands to establish an omnichannel selling presence and helps multinational brands such as Carrefour, L’Oreal, Motorola and Mondelez reach the LatAm market. VTEX expands the portfolio’s exposure to fastgrowing LatAm, supplementing existing holding MercadoLibre, which operates more as a marketplace in the region.”

Based on our calculations, VTEX (NYSE: VTEX) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. VTEX was in 14 hedge fund portfolios at the end of the third quarter of 2021. VTEX (NYSE: VTEX) delivered a -52.63% return in the past 3 months.

In November 2021, we published an article that includes VTEX in Chase Coleman’s Tiger Global Management Portfolio: 5 New Stock Picks. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.