ClearBridge Investments, an funding administration firm, revealed its “ClearBridge Small Cap Progress Technique” second quarter 2022 investor letter. A duplicate of the identical could be downloaded right here. Within the second quarter, the fund declined and underperformed the Russell 2000 progress benchmark. The letter states that larger rates of interest and present financial occasions influenced the efficiency of the fund.  You’ll be able to verify the highest 5 holdings of the fund to know its finest picks in 2022.

The letter talked about that the fund underperformed within the second quarter resulting from market volatility. The fund exited its place from Bandwidth Inc. (NASDAQ:BAND). Bandwidth Inc. (NASDAQ:BAND) is a communication platform service supplier headquartered in Raleigh, North Carolina. The inventory of Bandwidth Inc. (NASDAQ:BAND) closed at $16.75 per share on August 1, 2022, and it has a market capitalization of $423.393 million. Bandwidth Inc. (NASDAQ:BAND) returned -19.47% in a single month and its 12-month return dropped to -86.92%.

Here’s what ClearBridge Investments particularly talked about about Bandwidth Inc. (NASDAQ:BAND):

Our analysis reveals that Bandwidth Inc. (NASDAQ:BAND) just isn’t on our record of 30 Most Standard Shares Amongst Hedge Funds. Bandwidth Inc. (NASDAQ:BAND) was in 20 hedge fund portfolios on the finish of the primary quarter and 20 within the earlier quarter. Bandwidth Inc. (NASDAQ:BAND) shares misplaced 27.24% of their worth over the past three months.

You will discover one other article on Bandwidth Inc. (NASDAQ:BAND) that we revealed in January and shared why billionaire Steve Cohen thinks the inventory is a purchase. As well as, please try our hedge fund investor letters Q2 2022 web page for extra investor letters from hedge funds and different main traders.

Disclosure: None. This text is initially revealed at Insider Monkey.